From CNBC: 2024-08-07 09:00:01

Paige Bueckers, a star basketball player at the University of Connecticut, has partnered with beauty brand Madison Reed to bring some color to her hair by changing from blond to “sparkling rose.” The partnership between UConn and Madison Reed includes court-naming rights, NIL deals, and career opportunities, estimated to be in the multimillion-dollar range.

Madison Reed will sponsor UConn’s Gampel Pavilion and XL Center for the next three years, where both men’s and women’s basketball teams play. They have also signed NIL deals with four women’s basketball players, who will act as brand ambassadors and wear Madison Reed color during the partnership.

Amy Errett, founder and CEO of Madison Reed, sees this partnership as an opportunity to support and promote women athletes, offering them opportunities on and off the court. The deal also aims to capture a market of women aged 18 to 44, as 78% of them color their hair, according to Madison Reed.

The athletes involved in the partnership with Madison Reed will receive mentorship opportunities, internships, and equity in the company. The deal also includes the opportunity for athletes to franchise a Madison Reed Hair Color Bar in the future. The agreement aims to set up the athletes for success both on and off the court.

Paige Bueckers is excited about the partnership with Madison Reed, embracing the chance to experiment with different hair colors and engage with fans. She plans to promote the brand and may even let fans vote on her next hair color. Bueckers hopes to inspire others to express themselves and not be afraid to be themselves, even if it involves changing their hair color.



Read more at CNBC: Madison Reed bets on women’s sports with UConn basketball partnership