Michigan opens NIL exchange
Michigan has just announced that the VICTORS exchange platform is now open to the public. From the announcement:
“The VICTORS Local Exchange is a student-athlete NIL business registry, custom-designed for businesses, donors, alumni and other interested NIL dollars wishing to connect specifically with student-athletes at the University of Michigan. Registered companies can search, filter and initiate conversations with your student-athletes to discuss an NIL deal. Once the NIL deal between a registered business and student-athlete(s) is completed, the business will use the VICTORS Exchange to create a transaction that directly pays the student-athlete (without any transaction fee) and automate a disclosure to the INFLCR Verified Compliance Ledger.”
Link here: https://mgoblue.com/news/2022/2/9/general-michigan-opens-victors-exchange-platform-to-public.aspx
February 9th, 2022 at 9:45 PM ^
I read that as the University will not consider any licensing deals to use the Michigan logo from competing companies. Since they make a point to link to The University licensing page. Not that the players will not be allowed to sign marketing agreements.
I would really like a lawyer to give their opinion on the legalities of that in an unofficial capacity. Kind of confused about how the University can dictate who hires their students.
If Under Armour wants to hire a Michigan player to promote their products, the players have no binding contract with Nike or Jordan.
February 9th, 2022 at 3:07 PM ^
I'd find it fascinating if a big donor focused on retention of players who would normally declare for the draft. E.g., would a $1 million NIL deal induce Hunter to forgo the draft? They could even "automate" it, like 1XX% of rookie contract based on X draft projection.
February 9th, 2022 at 7:25 PM ^
Hopefully this is enough to satisfy Harbaugh to the point Oakland is no longer in play.