Opendorse, a leading name, image, and likeness (NIL) technology platform, has reduced its workforce by 23% this week, laying off approximately 15 employees as part of a broader restructuring initiative. 

The cuts bring the Nebraska-based company’s total headcount to around 50 employees, roughly half of its peak staffing level during the initial NIL boom following NCAA policy changes.

“We’re restructuring to better align with our priorities for 2025 and set ourselves up for long-term success,” Opendorse co-founder Blake Lawrence tells Sportico. The reduction follows a July leadership transition that saw e-commerce veteran Stephen Denton replace Lawrence as CEO, with Lawrence moving to president of collegiate operations.

The platform, which reports facilitating more than $250 million in NIL transactions, earned recognition from Time magazine as one of the world’s “most influential” companies in 2023. Opendorse has secured $40 million in venture funding from investors, including Flyover Capital, Serra Ventures, former NFL player Will Compton, and Sean Bratches, previously of ESPN and racing.

According to Sportico, the downsizing reflects broader consolidation within the NIL technology sector, as athlete compensation increasingly flows through collective organizations rather than individual platforms. Brands are also reassessing their return on investment in college athlete endorsements.

Opendorse maintains an optimistic outlook for the NIL market despite the restructuring. The company’s third annual industry report, released in July 2024, projects athlete NIL earnings to reach $1.67 billion this year “with no signs of slowing down.”