Welcome to the Hokies Exchange
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What is Name, Image & Likeness?
As of July 1, 2021, student-athletes at Virginia Tech and other NCAA schools 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 Virginia Tech NIL protocols.
What is the Hokies Exchange?
The Hokies Exchange is a NIL business registry, custom-designed for businesses, donors, alumni, and any others wishing to connect with student athletes. Registered businesses can search, filter and initiate conversations with student-athletes to discuss NIL opportunities. Once an NIL agreement between a registered business and your student-athlete is completed, the business will use the Hokies Exchange to create a transaction that will produce a direct payment to the student-athlete (without any transaction fee). The institution does not have to get involved in the arrangement 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 student-athletes. All communication and payments are automatically logged and stored within Hokies Exchange for any auditing and accounting purposes.
Does the state of Virginia have NIL legislation?
Yes, SB 223 is Virginia’s state NIL bill.
Can a University employee or coach help arrange a deal for an athlete?
Yes, with limitations. University employees, including coaches and members of the athletics department, can assist a student-athlete with an NIL opportunity but cannot dictate or influence the terms of the agreement.
Does the school or INFLCR take any revenue from NIL transactions in the Local Exchange?
Do you have to be an official university licensee to register?
No. Currently, the use of university marks and logos is not permitted in any NIL opportunity unless otherwise approved by the University and the Athletic Department.
Who approves your request to register?
Once registration is submitted, the VT Athletics Compliance Office reviews the request for approval. If you have any questions about your approval, contact JC Godin, Assistant Director of Compliance, at email@example.com.
How will I know when I am approved?
You should receive an email from the institution verifying your approval. You can expect to receive a decision within 5 business days.
When can I start contacting athletes and processing payments?
You will be able to contact student-athletes and process payments as soon as you receive approval from the Compliance Office.
Is there someone within the Athletic Department I can speak with about contracts or written agreements?
Yes. Please contact JC Godin, Assistant Director of Compliance, at firstname.lastname@example.org.