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.
FAQs:
What is Name, Image & Likeness?
As of July 1, 2021, student-athletes competing in NCAA intercollegiate athletics are permitted to receive compensation for the use of their name, image or likeness (NIL) for commercial activities, including endorsements through traditional and social media, appearances, entrepreneurial activities, in-kind deals, autographs and more, in accordance with NCAA guidelines and Saint Louis University NIL protocols.
Does the state of Missouri have an NIL Policy?
Yes, Missoui HB 297.
Does Saint Louis University have an NIL Policy?
Can a University employee or coach help arrange a deal for an athlete?
No. University employees, including coaches and members of the athletics department, CANNOT negotiate deals or contracts. However, they can direct student-athletes to NIL related opportunities on the “Billiken Exchange.”
Does the school or INFLCR take any revenue from NIL transactions in the Local Exchange?
No
Do you have to be an official university licensee to register?
No, but businesses will not be permitted to use university marks without prior approval from the Trademarks and Licensing Program. All requests will be considered on an individual basis and may not be approved. Saint Louis University will not consider requests from companies that are direct competitors of our current sponsors and/or partners.
Who approves your request to register?
The Saint Louis Athletics compliance officers will review all requests.
How will I know when I am approved?
You should receive an email from the institution verifying your approval. There is no timeline for verification approval as all inquiries are handled individually.
When can I start contacting athletes and processing payments?
After being approved by the school, you will be able to contact athletes and process payments in April 2022.
Who can I speak with about additional questions?
Questions and inquiries can be directed to Chad Zwierlein, Associate Athletic Director for Business, at [email protected].
