Thursday, February 29, 2024

Michigan State announces NIL program to connect student-athletes with businesses

February 1, 2022
<p>Michigan State head coach Mel Tucker greets former Spartan head coach Mark Dantonio at the Peach Bowl on Dec. 30, 2021.</p>

Michigan State head coach Mel Tucker greets former Spartan head coach Mark Dantonio at the Peach Bowl on Dec. 30, 2021.

Photo by Devin Anderson-Torrez | The State News

Michigan State and INFLCR, pronounced as influencer, have teamed up to launch a new program called Exchange, which will work to connect student-athletes and businesses to help facilitate NIL deals.

MSU Exchange will be a free service to both athletes and businesses. It will provide a customized portal where student-athletes can reach businesses, and vice versa, to negotiate and enter NIL transactions in a transparent and compliant platform.

MSU's main goal within the NIL realm has been to help their student-athletes maximize on any and all opportunities presented to them. They've provided educational and branding tools through the EverGreen program since NIL's inception and Exchange is only going to build off that in more diverse, supportive and innovative ways.

“As Name, Image and Likeness evolves, we are continually looking for ways to help our student-athletes maximize their opportunities,” Michigan State Athletic Director Alan Haller said. “We’ve provided education and branding tools through the EverGreen program since the inception of NIL, and Michigan State Exchange is an innovative way to offer an additional level of support by providing a platform for our student-athletes to connect directly with interested businesses in a manner which is both transparent and compliant."

Once a deal has been finalized, the business will use MSU Exchange to create a transaction that produces direct deposit payments to the student-athlete without all of the transaction fees.

“Michigan State Exchange provides a streamlined and compliant process for student-athletes to find local monetization opportunities,” INFLCR President Jim Cavale said in a release. “Michigan State is home to deeply rooted Spartan traditions, so their INFLCR Local Exchange offers a portal for that tradition to be celebrated across East Lansing and the state of Michigan. Adding the exchange platform creates tremendous value for their student-athletes when paired with their INFLCR supported NIL program, EverGreen.”

All disclosure and payment data automatically reports to MSU's existing INFLCR compliance portal and any payments processed using this tool will be reported on a consolidated 1099 form for efficient tax reporting every year.

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