Olivia Dunne reveals her NIL valuation and how she manages finances: 'Don't rush into anything'
BATON ROUGE, LOUISIANA: Olivia Dunne has established herself as one of the most popular college athletes on social media. With her enormous following, she has landed several lucrative name, image, and likeness (NIL) deals throughout her college career. These deals have not only boosted her reputation but have also raked in a considerable amount of money.
Dunne has offered some sage advice to other college athletes looking to break into the world of NIL. In an interview with The Street, she shared some of her strategies for success in this field.
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'Don't rush into anything'
Dunne has an NIL valuation of $3.4M, according to Fox Business. The New Jersey native has signed deals with SI Swimsuit, Leaf Trading Cards and Vuori, among others. She stressed on the importance of being cautious about how athletes spend their newfound wealth. Although the allure of instant gratification might be strong, she advised athletes to remember that they were still in college and to spend their money wisely. She recommended investing a majority of the money and setting aside a small amount for daily expenses.
"For other athletes, especially, that are in college, I would say spend your money like a college student, put all that money away, invest it, and just spend it like a normal college kid," Dunne said.
'Find a really good agent'
"I would say first and foremost, find a really good agent," Dunne told The Street, adding, "And just take your time. Don't rush into anything. Don't be in a rush to make a lot of money. Take your time because it'll come. NIL is such an unprecedented area. At first, when it changed, nobody knew really what was going on. I didn't. LSU didn't, other universities didn't, and the brands didn't know either. So, just take your time and the money will be there."
Dunne acknowledged that the world of NIL could be difficult to navigate in the beginning. A trustworthy and experienced agent can help athletes avoid potential pitfalls and ensure that they're getting the best possible deals.
Dunne encourages athletes not to rush into signing any contracts, and to take their time in making decisions. Since NIL is a new and ever-evolving industry, it's important to carefully consider each opportunity that arises. Above all, she advises athletes to be patient and understand that success will come, but that it takes time and hard work.
'No one really expected a woman gymnast to be at the forefront'
Dunne spoke with Sports Illustrated in April about being the first female athlete in NIL. "As a woman, no one really expected a gymnast to be at the forefront of (name, image, and likeness deals). Most people expected football, baseball, and basketball. To be a woman at the forefront, and trying to make the playing field more level, is definitely a step in the right direction," she said. Addressing younger women, she said that "you are more than just your sport."