Blueprint Sports, which also operates similar NIL organizations at Penn State, Florida State Arizona and Tennessee, will operate the collective.
Lauren Karn will be at the helm for the Terps in 2024, looking to improve upon their best season in more than a decade.
Karn replaces former coach Mark Montgomery, who resigned in July.
Assistant coach Laura Heberling will serve as interim head coach while the athletic department conducts its search for a new head coach.
The Barry P. Gossett Basketball Performance Center will serve as the Terps’ long-awaited basketball-only practice facility.
The Terps' athletic director talked about the program's plans for a new hitting facility, former coach Rob Vaughn's departure and expressed his confidence in new coach Matt Swope.
Swope spent four years as a player for the Terps and has been an assistant with the program for 11 years.
The uniforms will be the full-time look for the Terps for the first time since the 1991 season.
The 10-year deal is estimated at around $14 or $15 million dollars, with $11 million guaranteed.
The Terps have increased their win total in each season since Montgomery joined as coach.