Key Takeaways:
- Panini America and Pathway Sports & Entertainment have signed a multi-year NIL trading card deal covering hundreds of current college athletes from Notre Dame, Michigan, USC, and Texas Tech.
- Athletes earn real money. Participating athletes receive autograph compensation and a share of product sales through Pathway’s non-exclusive player licensing royalty program — the same model used at the professional level.
- Cards will be sold on Panini Instant, Panini’s NIL platform, and through major retailers and e-commerce outlets in school-specific packs, multi-school sets, and team-centered retail packs, with products expected by late fall 2026.
Panini America and Pathway Sports & Entertainment announced a multi-year agreement to create, promote and sell officially licensed college athlete trading cards across the United States. The deal will launch with hundreds of athletes from Notre Dame, Michigan, USC and Texas Tech signed on — and more schools are expected to join.
Why Does This Partnership Matter for College Sports?
College athletics has long been a difficult licensing market. For years, athlete-specific merchandise was essentially impossible due to strict NCAA rules around student-athletes. However, ever since 2021, when those rules changed to allow athletes to profit off their “name, image and likeness,” there has been more money than ever flooding into the market.
“Pathway was founded on the premise that the market for collegiate athletes is fragmented, untapped and unlimited,” said Pathway Founding Partner and President Casey Schwab. “Panini is a world-class company that shares our values and goals and our demand for high-quality opportunities on behalf of college athletes. This partnership will greatly benefit the featured athletes who Pathway is proud to work with, and we look forward to announcing additional schools in the near future.”
Panini’s global distribution — spanning more than 150 countries and over 1,800 employees — gives that untapped market some serious commercial runway.
For collectors, the appeal is easy to understand. Their favorite collegiate athletes now available just like the pros. Cards will span football, men’s and women’s basketball, softball, volleyball and Olympic sports. Hundreds of male and female athletes will be compensated to sign autographs for inclusion in the sets. A small group of school alumni will also appear.
Where Will You Find the Cards?
Panini plans to sell cards as individual units on Panini Instant and its NIL platform, through school-specific and multi-school products and via team-centered retail packs at major retailers and e-commerce outlets. Casual fans can grab a retail pack; dedicated collectors can chase autograph inserts and limited runs. Cards are expected to go on sale by late fall 2026.
How the Athletes Get Paid
This is the part that sets the deal apart. Athletes don’t just sign cards and walk away. The agreement includes a non-exclusive player licensing royalty program, meaning participants share in the upside from product sales — the same type of deal used at the NFL and NBA card level. Autograph compensation is also built in.
“We are thrilled to enter into this unique partnership with Pathway Sports & Entertainment, a leader in driving value for college athletes,” said Jason Howarth, Senior Vice President of Marketing & Athlete Relations. “The college athletics space is a significant market for athletes and for fans and Panini is proud to once again be at the forefront of 21st century business. We will use our world-class product development, sales, marketing and distribution channels to promote the cards and the signings across North America and look forward to adding more athletes to our portfolio.”
College trading cards have arrived. The money is real, the roster is growing, and the packs drop this fall.
(Note: AI assisted in summarizing the key points for this story.)