Armando Bacot is making plays on and off the court as the University of North Carolina basketball star makes more moves with the name, image and likeness trend.
Bacot has partnered with major brand Dunkin' to promote products for the national doughnut and coffee chain. The senior is averaging 17 points and nearly 11 rebounds a game for the 12-6 Tar Heels, who've had an up and down season so far amid ultra-high expectations and a pre-season No. 1 ranking.
Bacot, perhaps the biggest name on the UNC team, has inked several NIL deals as the new industry for college athletes to market themselves and partner with big-name brands continues to surge.
Overall, the NIL industry could hit $1 billion in just its second year.
Bacot has more than 230,000 followers across Instagram (Nasdaq: META), Twitter (NYSE: TWTR) and TikTok. NIL deals primarily work with student-athletes using their large number of social media followers to market and promote their NIL partners' products and services.
Recently, Bacot inked a deal with Raleigh startup BOA Nutrition that includes an equity stake –Duke basketball's Jeremy Roach is also partnering with BOA. Bacot's ON3 NIL valuation is $1 million, putting him third among men's college basketball players.
Massachusetts-based Dunkin' now has NIL deals with more than 30 college athletes. The company, with more than 8,000 locations in the U.S. and thousands more around the world, officially announced the deal with Bacot on Tuesday – it also unveiled its GO TAR HEELS doughnut, which will be available at Triangle locations through Feb. 21.
