The same collective’s deal with a student-athlete to promote the collective’s sale of merchandise to the public would not satisfy the valid business purpose requirement for the same reason; the collective’s whole purpose in selling merchandise is to raise money to pay that student-athlete and potentially other student-athletes at a particular school or schools, which is not a valid business purpose under NCAA Rule 22.1.3.
These same deals would satisfy the valid business purpose requirement if the entities paying the student-athletes, and receiving the proceeds from the general public, were businesses that had a broader purpose outside of paying student-athletes at a particular school or schools (e.g., a golf course, an apparel company).