From Ohio Athletics:
The Ohio University Athletics Department, in conjunction with INFLCR, is excited to launch their new platform, the Ohio NIL Exchange, which will further assist Ohio Athletics in supporting student-athletes as they pursue Name, Image, & Likeness (NIL) business opportunities. This innovative partnership positions Ohio Athletics on the cutting-edge of NIL as INFLCR’s first Mid-American Conference athletic department launch partner.
“As we continue to innovate around NIL, we are excited to be the first in the MAC to partner with INFLCR on the Local Exchange platform,” said Director of Athletics, Julie Cromer. “Providing this centralized platform to connect our student-athletes with interested businesses, organizations and individuals is key to our strategy. We strive to create as many opportunities for our student-athletes and our community as possible. The Ohio NIL Exchange will provide successful and efficient NIL solutions for all interested enterprises.”
The Ohio NIL Exchange will be the home for all Ohio NIL information, education, opportunities, and reporting. Members of the business community will now be able to partner directly with student-athletes on brand-focused activities, provided they are within legal protocols and follow the Ohio University NIL guidelines and are approved in advance by the Ohio University Compliance department.
Sign-up for the Ohio NIL Exchange at OhioBobcats.com/exchange.
After a business or individual registers on the Ohio NIL Exchange, they will have access to a searchable database of Bobcat student-athletes, and filter that database through a variety of criteria. They will have the ability to message the student-athlete directly in the application or request contact information to begin discussions about any potential NIL transaction. INFLCR and Ohio University will not be involved in any of the negotiations.
“Ohio is setting an example for all other MAC institutions by adding a comprehensible solution to NIL through INFLCR,” said INFLCR Founder Jim Cavale. “It is prudent that institutions provide the necessary resources for their student-athletes to be successful, and that is exactly what Ohio is choosing to do with their Ohio NIL Exchange.”
Upon finalization of an NIL deal within the Local Exchange, student-athletes will then be able to complete a compliance disclosure within the INFLCR app. The app will also include a payment processing tool for the business to securely and directly pay the student-athlete, with no transaction fees. All disclosure and payment data automatically reports to the institution’s existing INFLCR compliance portal, and any payments processed using this tool will be reported on a consolidated 1099 that lives in the student-athlete’s INFLCR app for more efficient tax reporting.
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.