What is the Redhawk Exchange?
The Redhawk 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 an NIL deal. Once the NIL deal between a registered business and your student athlete is completed, the business will use the Redhawk 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 Seattle University NIL protocols.
Does the state of Washington have an NIL Policy?
The State of Washington has not yet adopted NIL legislation, but it is anticipated that a bill is forthcoming.
Can a University employee help arrange a deal for an athlete?
No. University employees, including coaches and members of the athletics department, are not permitted to facilitate, broker and/or negotiate NIL deals, terms and/or contracts. However, university employees may encourage student athletes to pursue NIL-related opportunities on the Redhawk Exchange.
Does the university or INFLCR take or receive any revenue from NIL transactions in the Exchange?
No. The university is committed to assisting student athlete pursuits of permissible NIL activities and to maximize their financial opportunities and professional development through those activities. Neither the university or INFLCR receive any share of student income at any time.
Do you have to be an official university licensee to participate in the Exchange?
No, individuals and entities are not required to register as a licensee to participate in the Redhawk Exchange. However, if businesses and/or student athletes would like to use university trademarks as part of a NIL campaign, licensee registration with CLC Learfield IMG College is required. Student athletes are permitted to use university authorized intellectual properties, including in-game photographs, as part of their NIL activities without licensee registration.
Who approves your request to register for the Exchange?
The Seattle University Athletics Compliance staff will review and approve all Redhawk Exchange registration applications.
How will I know when I am approved?
You will receive an email from the Compliance staff verifying your approved registration to the Redhawk Exchange. Our staff will make every effort to process all registration requests as quickly as possible.
When can I start contacting athletes and processing payments?
After being approved by the university, you will be provided login access to the Redhawk Exchange and will be able to contact student athletes and arrange for activities. The Exchange offers registrants a range of tools to assist in the NIL process.
Additional Resources