Dan Furman is one of the leading voices in the college sports business, joins Adam Breneman for a powerful and revealing conversation. As the head of Louisville’s official NIL collective, Dan has overseen tens of millions of dollars in athlete payments, and helped redefine how collectives, schools, and players operate in this new era of college athletics.

In this episode, Dan shares how 502 Circle started with just $12,000 in the bank and scaled into one of the most sophisticated and respected collectives in the country. He opens up about the realities of running seven-figure monthly payrolls, the daily chaos of the transfer portal, and why player negotiations now resemble professional free agency. From in-house battles over donor dollars to dealing with underqualified agents and “runners,” Dan lays out the messy, high-stakes truth behind the NIL headlines.

Adam and Dan also dive deep into the impact of the new revenue-sharing model and how the College Sports Commission is reshaping the rules of engagement. Dan reveals what top players are actually making by position, how locker room dynamics are affected by incoming transfers, and what agents get wrong (and right) in this system. He also discusses launching Floyd Street Media with College Sports Co. one of the first media networks run by a collective, and why storytelling and brand-building are now essential tools in recruiting and fundraising.

If you're a coach, fan, administrator, parent, or athlete trying to understand the business of college sports in 2025, this episode is a must-watch.

PRIZEPICKS: Get a $50 bonus from PrizePicks with code "NEXTUP": https://prizepicks.onelink.me/ivHR/NextUp

For sponsorships or business inquiries reach out to: advertising@frontofficesports.com

SUBSCRIBE HERE: https://www.youtube.com/@NextUpWithAdam?sub_confirmation=1

FOLLOW NEXT UP WITH ADAM:

INSTAGRAM | https://shorturl.at/d9IdQ

X | https://x.com/NextUpWithAdam

TIKTOK | https://shorturl.at/qasuc

SPOTIFY | https://shorturl.at/5ZdaK

APPLE PODCASTS | https://shorturl.at/mW49D

CHAPTERS:

0:00 - Intro

3:15 - Louisville’s NIL Collective

8:33 - Managing Relationships with Players, Coaches, & Donors

10:40 - Paying Athletes in 2026

14:17 - College Sports Commission

18:58 - Craziest Transfer Portal Story & NIL Agents

24:43 - Having 1 Transfer Portal Window

28:03 - What Top Players Make In College Football

33:25 - Negotiating with Current Players vs. Portal Players

37:42 - What the Best Agents Do

40:45 - Floyd Street Media

45:25 - Advice for Getting into Sports Industry

47:28 - Toughest Moment at Louisville Collective

49:43 - Advice to a 17-year-old Athlete

53:08 - Biggest Misconception about NIL

On Next Up, college football analyst Adam Breneman sits down with the most influential names in college sports and lets them tell their stories unfiltered, direct to the fans.

Next Up is a Front Office Sports Network show featuring candid, open, and honest conversations with the most impactful figures in college sports including head coaches, athletes, athletic directors, commissioners, entrepreneurs, media personalities, agents, and executives shaping the business of college sports.

Adam is a former All-American, Penn State alum and media personality. Front Office Sports is the leading multi-platform media and news organization covering the intersection of sports, business and culture.