What is the Hornet Local Exchange?
The Hornet Exchange is a student-athlete NIL business registry, custom-designed for businesses, donors, alumni, and any other interested NIL dollars wishing to connect with student-athletes. Registered businesses can search, filter, and initiate conversations with your student-athletes to discuss a NIL deal. Once the NIL deal between a registered business and your student-athlete is completed, the business will use the Hornet 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. 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 more straightforward 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 \ NIL protocols.
Does the state of California have a NIL Policy?
Yes, please see here.
Does Sacramento State have any additional restrictions within their NIL Policy?
Yes. In accordance with California’s state NIL law, Sacramento State Athletics prohibits the use of NIL agreements as a recruiting inducement or other “pay for play.” Additionally, Sacramento State officials are prohibited from facilitating NIL deals for our student-athletes. Sacramento State also prohibits the use of its marks, logos and facilities in NIL agreements, and reserves the right to deny NIL deals that endorse products that conflict with university values or contractual relationships.
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 "Hornet 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, any person or business can register to join the Hornet Exchange.
Can a registrant use University marks or logos in NIL deals done with Sacramento State athletes?
Only registrants who are current corporate partners can use University marks or logos and use of marks must be approved prior to implementation. Student Athletes are allowed to wear school issued apparel in any ad, promotion or public appearance. To receive approval please email: andy.fiske@csus.edu
Who approves your request to register?
Typically, a member from the athletic department administration is designated by the institution. If you have any questions about your approval, contact Matt Vincent at m.vincent@csus.edu.
How will I know when I am approved?
You should receive an email from the institution verifying your approval. We don’t have specific numbers for how long it will take to get verified. Each institution works differently.
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.
How do I pay athletes?
You can pay the athletes by ACH, Credit or Debit Card or give a Check directly to the athlete. Fee's will be added for credit and debit card transactions. Click here for details.