Lamar University launches NIL Exchange to help with athlete business opportunities
Published 12:06 am Thursday, February 23, 2023
BEAUMONT — Lamar University Athletics, in conjunction with INFLCR, is excited to announce the CardiNIL Exchange, which will allow student-athletes to pursue Name, Image, & Likeness (NIL) business opportunities.
Companies can register for CardiNIL Exchange now via LamarCardinals.com/NIL. Examples of possible business deals include public appearances, autograph signings, social media promotion and endorsement, private lessons and athletic camps.
“The CardiNIL Exchange will provide a seamless connection between our student-athletes’ digital profiles and the many great businesses and non-profit organizations in Southeast Texas. The exchange is set up to allow us to better serve our student-athletes and provide them with direction on taking advantage of their name, image and likeness,” said Director of Athletics Jeff O’Malley.
“CardiNIL Exchange is another new resource to our athletic programs that will further help in the pursuit of championships and provide support for our student-athletes. We are excited for our student-athletes to capitalize on these opportunities and look forward to having our supporters and businesses utilize this platform as we move LU Athletics to a bright future.”
“We are excited to partner with Lamar University to support their vision of maximizing NIL opportunities for their student-athletes,” said INFLCR founder Jim Cavale. “The launch of the CardiNIL Exchange will empower LU student-athletes to monetize their brands with NIL partnerships on a fee-free platform.”
The CardiNIL Exchange will be the home for all Lamar University Athletics 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 LU NIL guidelines and are approved in advance by the LU Compliance department.
By adding this resource, Lamar University student-athletes will be able to create business connections, streamline payments and reporting processes, consolidate tax information and create appropriate separation between the University and each student-athlete’s pursuit of NIL opportunities, all within the INFLCR app.
The CardiNIL Exchange will also provide student-athletes with education on NIL issues, while also tracking social media engagement and growth.
After a business or individual registers on the CardiNIL Exchange, they will have access to a searchable database of LU 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 LU will not be involved in any of the negotiations.
Upon finalization of an NIL deal within CardiNIL 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.