Welcome to the LEGACY Exchange

Connect and work with student-athletes from
DePaul University
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What is the LEGACY Exchange?

The LEGACY Exchange is a student-athlete NIL business registry, custom-designed for businesses, donors, alumni, and any other interested NIL dollars wishing to connect with DePaul University student athletes. Registered businesses can search, filter and initiate conversations with DePaul student-athletes to discuss an NIL deal. Once the NIL deal between a registered business and the student-athlete is completed, the business will use the LEGACY Exchange to create a transaction that will produce a direct payment to the student-athlete (without any transaction fee) and automate a disclosure to the INFLCR Verified Compliance Ledger. DePaul University and its staff will not be 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 NIL?

NIL is an acronym for Name, Image and Likeness. Permitted NIL activities allow student-athletes to be compensated from the use of their NIL in promoting products, services, or businesses. 

Does IL have a state law?

Yes. The state of Illinois has a law, known as the Student Athlete Endorsement Act.

What happened on July 1, 2021?

The State of Illinois has passed a law that prevents the NCAA from prohibiting student-athletes from profiting off their NIL and that law goes into effect on July 1, 2021. That means student-athletes will be able to profit from their NIL without jeopardizing eligibility or scholarships because the state law trumps the NCAA rule.

What does this mean for DePaul University student-athletes?

DePaul University will create its own policies that adhere to and complement the state law to allow its student-athletes to earn compensation from NIL activities beginning July 1, 2021.  In the meantime, these guidelines are here to help answer your initial questions as the law goes into effect. 

What are some examples of ways I could be compensated for my NIL?

Subject to certain restrictions put in place by the Illinois law and Athletics Department policies, DePaul student-athletes could be compensated, proportionate to market value, for autographs, personal appearances, brand sponsorship deals, private lessons, personal camps, advertisements, and endorsements.

What are some examples of ways I cannot be compensated for my NIL?

You may not earn compensation in exchange for your athletic ability or for participating in an intercollegiate athletic competition or for your agreement or willingness to attend DePaul University or any other postsecondary educational institution. 

Will student-athletes be required to disclose NIL opportunities?

Yes. At a minimum, any agreements of $500 or more require a written agreement that must be provided to the Athletic Compliance Office prior to execution of the agreement and before any compensation is provided to the student-athlete.

DePaul Athletics has secured INFLCR Verified to streamline this process. INFLCR is the app that many DePaul University student-athletes are already using to produce content more easily on their social media platforms. INFLCR Verified will also help you disclose and monitor your agreements. It is scheduled to be available to all DePaul student-athletes through their INFLCR accounts by July 1, 2021. 

What services or products am I forbidden to endorse?

DePaul’s NIL policies will preclude its student-athletes from entering into agreements that violate NCAA rules or reflect adversely on DePaul and its mission and values as a Catholic, Vincentian university.  Some examples of services or products that the Illinois law prohibits you from endorsing or promoting are those that relate to gambling, sports betting, controlled substances, cannabis, tobacco, alcohol, vaping, performance-enhancing supplements, and adult entertainment. 

Can DePaul University staff members assist me with getting endorsements?

No. The Illinois law and DePaul’s NIL policies will prohibit DePaul Athletics from directly or indirectly arranging for endorsements. 

Can I use DePaul trademarks and logos with my NIL opportunities?

DePaul’s NIL policies will address the use of DePaul University and DePaul Athletics trademarks and logos.  For now, it is important to know that student-athletes may not enter into a contract for compensation for NIL if the student will be using any registered or licensed marks, logos, verbiage, name, or designs of DePaul unless DePaul has provided the student-athlete with written permission to do so prior to executing a contract or receiving compensation. 

Who do I contact if I have questions?

Kim Smith
Associate Athletics Director for NCAA Compliance & Leadership
(773) 325-4019 | k.smith@depaul.edu

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 in order to use DePaul Athletics marks, businesses must follow the process to become an official licensee.

Who approves your request to register?

Typically, compliance officers are designated by the institution. If you have any questions about your approval, contact Kim Smith, Associate Athletics Director for NCAA Compliance & Leadership at k.smith@depaul.edu    

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