With July 1st almost here, it’s looking increasingly likely that it will be permissible for student-athletes in every state to earn compensation for their Name, Image and Likeness. While this is undoubtedly an exciting time for the 134 institutions and their 100,000+ student-athletes that INFLCR’s technology serves, it has also created a number of questions for institutions in regards to how they should move forward in establishing, communicating, and tracking their NIL regulations.
INFLCR has been working with institutions in states that have NIL legislation going live on July 1 and has been in close contact with a number of the individuals responsible for drafting recent NIL legislation in states like Florida and Alabama.
In conjunction with institutions and industry experts, INFLCR has developed three main resources to assist our clients in establishing, communicating, and tracking their NIL regulations.
Establishing NIL Regulations
When Darren Heitner tweeted last week, CEO Jim Cavale reached out to inquire about getting his template in the hands of all INFLCR customers who need it.
To support in establishing regulations, INFLCR will be facilitating the distribution of a legal document template*, built with baseline regulations for general counsel to utilize in formulating the institution’s NIL regulations.
Communicating NIL Regulations
Whether operating under state legislation or under provisions of an NCAA waiver, it is still necessary for every institution to communicate applicable regulations to their student-athletes, staff, and vendors as a guideline of what they can and can’t do beginning July 1. Infographic templates will be distributed to partner institutions to customize for their institution’s respective NIL Regulations and aid in communicating the key points to all stakeholders.
Tracking NIL Regulations
Accountability for upholding both state and institution NIL regulations is growing increasingly imperative. INFLCR Verified provides attestation technology to store and track state and institutional regulations within the settings of the INFLCR account. Student-athletes and vendors must attest to each key point of an institution’s NIL Regulations during their disclosure process on the INFLCR app.
Existing partners looking for additional assistance with INFLCR Verified should reach out to their Client Success Manager.
To Learn More about INFLCR Verified, visit our Compliance Solutions page.
Read more about colleges preparing their own policies in Forbes.
*Disclaimer: Neither INFLCR nor Darren Heitner/Heitner Legal will receive any compensation for distribution/use of the template. Institutions are recommended to consult with their own General Counsel to determine any modifications required for their institution.