Cody Campbell, founder of Texas Tech’s NIL collective The Matador Club, has sold his oil and natural gas company Double Eagle to Diamondback Energy for approximately $4.08 billion in cash and stock. This deal comes after a successful transfer portal class that helped the Red Raiders land top recruits. Campbell is the main financial backer behind this class, which included running back Quinten Joyner (USC) and receiver Reggie Virgil (Miami, OH). The Matador Club has been a key player in NIL since its launch in 2022, signing over 100 football players to one-year contracts worth up to $25,000. Campbell announced the deal saying he believes Diamondback is acquiring a “truly standout asset” that will further increase their high-quality inventory and maintain community impact values.
Source: https://www.on3.com/nil/news/texas-tech-nil-collective-founder-cody-campbell-sells-company-for-4-1-billion