CHARLOTTESVILLE, VA (APRIL 5, 2022) — One month into its launch, Cav Futures has raised more than $1 million worth of commitments from individuals and corporate partners for use of University of Virginia student-athletes’ Name, Image, and Likeness (NIL), the collective announced today.

“We are only a few weeks into this journey, and are pleased at the significant interest from businesses and investments from partners to support UVA student-athletes,” said Lo Davis, executive director of Cav Futures. “This is only the start as we continue to get the word out about our mission and introduce our program to individuals and organizations that want to get involved in NIL. We thank those who have already gotten on board.”

Cav Futures is an NIL collective dedicated to providing University of Virginia student-athletes opportunities to capitalize on their talents in compliance with current and future university, NCAA, state, and federal policies. In addition to raising money earmarked to student-athletes, the collective connects interested companies and nonprofits with UVA student-athletes to provide with them marketing, promotional, and logistical support. And for the many student-athletes who will not play professional sports, the organization offers education, professional readiness, and networking to maximize their potential through NIL.

The collective has announced partnerships with RAHE Inc., owner-operator of regional McDonald’s franchises and men’s basketball platform and online store Locker Room Access. Cav Futures has numerous additional pending agreements.

Since July 2021, the NCAA has allowed college athletes to benefit from their name, image, and likeness in a manner consistent with applicable laws and regulations. Federal NIL legislation has been introduced but not yet passed by Congress. NCAA rules and penalties around avoiding “pay-for-play” scenarios and improper inducements to student-athletes tied to choosing to attend a particular university remain in effect.