Louisville basketball gets NIL boost: Pat Kelsey's program receives $1M matching donation
Louisville men's basketball got a boost on the name, image and likeness (NIL) front Monday.
The Cardinals' NIL collective, 502 Circle, received a $1 million matching donation from local businessmen Rick and David Kueber of Glow Brands.
During an appearance on WLCL 93.9 FM, Rick Kueber said the money will be "earmarked for men's basketball, and any of the leftover proceeds will go to the other sports.
"I think we all understand how important the success of Louisville basketball is to the city," he told host Drew Deener. "We're really happy to do this. We're super excited that coach Pat Kelsey is here with us. I think there (are) great times ahead."
The Kueber family's donation comes less than a week after 502 Circle reported the most new enrollees in a single day on March 28 — Day 1 of the Kelsey era.
The money should go a long way in helping the 48-year-old coach construct his inaugural roster.
As of Monday morning, all but one of U of L's players from the 2023-24 team, whose 8-24 season led to head coach Kenny Payne's ouster, have entered the NCAA transfer portal.
Kelsey secured two commitments through the portal over the weekend from members of his final team at Charleston. The first, junior guard Reyne Smith, led the Cougars in scoring and was one of the country's top 3-point shooters; while the second, freshman forward James Scott, tallied a team-high 45 blocks across 16.1 minutes per contest.
On Tuesday, Kelsey is reportedly hosting James Madison guard Terrence Edwards Jr., who was named this season's Sun Belt Conference Player of the Year, on a visit.
"It's crazy that we're sitting here and talking about having to put together a fund to put together a basketball team," Rick Kueber said. "I don't think any of us thought we'd ever be here, but that's where we are today; and it's important. This money is really important.
"We want Pat and his staff to get off to the right start; and we need to put together a roster that's competitive."
The Kueber family purchased the naming rights for the training facility that houses men's basketball, women's basketball and women’s lacrosse in 2018. Their Glow Brands comprises Planet Fitness, Sun Tan City and Buff City Soap.
When asked after Kelsey's introductory news conference about where Louisville stands in the NIL game, and how much players on last year's team made, athletics director Josh Heird did not provide specifics. But he said, "I fell very comfortable with where we are relative to the resources we need.
"It's so hard to get into specifics," he said. "Because we know what our numbers are; (but) I don't know what any other numbers are.
"Are there ranges, or do you hear things? Yeah; but I will tell you, even through some of the conversations (we had) during this (coaching search) process, some numbers I thought were accurate, or somebody was telling me a totally different number in some of these conversations. I know that was kind of a vague answer for you, but I'm very confident that we are going to have what we need to put a good roster together."
Created in June 2022 by Louisville native Marc Spiegel of Rubicon Technologies and three others, 502 Circle has six membership options ranging from monthly donations of $25 to $850. It became the Cards' official collective last September through a partnership with their exclusive multimedia rights holder, LEARFIELD's Louisville Sports Properties.
Reach Louisville men's basketball reporter Brooks Holton at bholton@gannett.com and follow him on X at @brooksHolton.
This article originally appeared on Louisville Courier Journal: Louisville basketball NIL: Pat Kelsey's Cardinals receive big donation
