The collectives work with Matt and coach. The process is rather complex, with collectives and university working hand in hand.
The big risk is that collectives are commiting to paying plsyers with $ that may not be fully funded, and the player us paid over the course of the contract.
Almost for certain some collectives will default on their commitments if they do not raise enough funds.
I'm less concerned about collectives taking too much of the pie because the margins in basketball are too narrow and the big money comes from smart wealthier businessman. As one person told me, "you think a smart supporter is going to spend $100k and let us take $20k of that".
All in all i see nil collectives as a bad business proposition for non football schools. It's too much work to raise a few million bucks, the overhead for events , legal fees, and marketing too high, and too little left at the end of the day.
Football schools that raise $30-$40 million in nil is a different story.