Michigan State men's basketball and football will now make up to $6,000 annually in a name, image and likeness deal with United Wholesale Mortgage.
The Alliance, in addition to future scheduling alignments, will have the Big Ten, ACC and Pac-12 work together on decision making on the future of college athletics.
This is the first time that MSU basketball players have been able to capitalize on the newly-passed law in July that allows college athletes to profit directly from their fame through college athletics.
Henry, who skipped his senior season at MSU for the draft, was one of the first players signed following the conclusion of the second round.
On May 22, Appling was accused of shooting and killing 66-year-old Clyde Edmonds, to whom Appling is related by marriage, after a verbal altercation turned physical. He was arrested May 24.
The staple of Tom Izzo’s tenure as Michigan State's head coach has been stability, but MSU was forced to make changes to the coaching staff with assistant coach Dane Fife leaving to join his alma mater, Indiana.