Name, Image and Likeness exchange will help connect student-athletes to NIL opportunities
From St. Louis:
Saint Louis University’s Department of Athletics today launched the Billiken Exchange, a portal that will allow for local businesses, donors, alumni and other interested entities to connect and engage with SLU student-athletes as they pursue Name, Image and Likeness (NIL) opportunities.
The service is in partnership with INFLCR, a leading athlete brand-building and NIL business management app for athletic organizations.
“This is an important step as we continue to support our student-athletes in Name, Image and Likeness opportunities,” SLU Director of Athletics Chris May said. “By partnering with INFLCR, we are able to provide our Billikens with a proven technology so they can connect with those interested in engaging in an NIL opportunity. We fully support our student-athletes in their quest to take advantage of NIL and we encourage those wishing to support them by joining the Billiken Exchange.”
Interested entities can access the Billiken Exchange and apply by clicking here. It is free to register. Neither SLU or INFLCR receive any revenue from NIL transactions in the Billiken Exchange – all compliance, payments and tax considerations are managed in the app by the student-athlete and the business.
“SLU knows that its department’s support is necessary for Billiken student-athletes to be successful in their NIL journey,” INFLCR President Jim Cavale said. “They’re building the blueprint to set their student-athletes up with the right system one piece at a time, with the Billiken Exchange being the piece to close any gaps in reporting and providing opportunities.”
Below is additional information on the Billiken Exchange.
What is the Billiken Exchange?
The Billiken Exchange is a student-athlete NIL business registry, custom-designed for businesses, donors, alumni, and any others wishing to connect with student-athletes. Registered businesses can search, filter and initiate conversations with your student-athletes to discuss an NIL deal. Once the NIL deal between a registered business and your student-athlete is completed, the business will use the Billiken Exchange to create a transaction that will produce a direct payment to the student-athlete and automate a disclosure to the INFLCR Verified Compliance Ledger. The institution does not have to get involved in the deal and all transactions within the local exchange are consolidated into one 1099 at the end of the year for easier tax reporting purposes for registered businesses and athletes.
INFLCR Plus Local Exchange: How It Works
INFLCR provides a school-customized NIL exchange as an extension to their athletics website where the school can send any business, individual or collective seeking to bring NIL opportunities to its student-athletes. Once registered, businesses can search, communicate, pay and report on behalf of student-athletes they’re transacting with, streamlining the student-athlete’s compliance and tax reporting responsibilities in their existing INFLCR app experience.