Zach Stipe Associate AD / CommunicationsCINCINNATI – Cincinnati Bearcats' student-athletes and businesses from across the country now have a new tool that will make developing Name, Image and Likeness (NIL) agreements easy and efficient.
The University of Cincinnati Athletics Department and INFLCR announced the launch of Bearcats Exchange on Wednesday. The complimentary NIL marketplace service directly connects student-athletes with commercial enterprises, features customized NIL reporting and a communications portal to pitch and request student-athletes for business inquiries and NIL fulfillments.
Bearcats Exchange is the latest NIL innovation as part of Cincinnati's IMPACT, NIL development program that includes a partnership with Altius Sports Partners. UC is one of six athletic departments that will participate and place a full-time Altius personnel on campus as part of new GM program to connect athletes with brands and identify brand prospects.
Businesses can register now at GoBearcats.com/Exchange. UC will opt-in all of its student-athletes, who may opt out if they choose not to participate.
At the same time, UC is also opening the way to co-brand with its student-athletes, which means the school's logos can begin appearing in NIL arrangements. Businesses wishing to participate in those agreements must be approved in advance by the athletics department's branding and licensing office. That office can be reached at GoBearcats.com/licensing.
"Businesses and UC student-athletes now have an industry-leading marketplace that will allow them to have conversations and negotiate deals."
John Cunningham
"Bearcats Exchange will streamline the brand partnership processes for our student-athletes and businesses that want to be involved with UC Athletics," Cincinnati AD John Cunningham said. "Businesses and UC student-athletes now have an industry-leading marketplace that will allow them to have conversations and negotiate deals. INFLCR is an industry leader in content, data management and NIL solutions, and we are excited to partner with them. Cincinnati Athletics has been proactive in the NIL space for more than a year and we will continue to position our student-athletes to take advantage and find success for what's next in college athletics."
After a business, group or individual registers on Bearcats Exchange, they can access a searchable database of UC student-athletes, and filter through a variety of criteria. They can message the student-athlete directly in the application or request the student-athlete's contact information (or that of their representative) to start a discussion about an NIL transaction. INFLCR and UC will not be a party to the negotiations.
Once an NIL deal is completed, the compliance disclosure, which can be customized based on university regulations or state legislation, will include a payment processing tool for the business to securely pay the student-athlete. All disclosure and payment data automatically reports to the institution's existing INFLCR account, and any payments processed using this tool will be reported on a consolidated 1099 that lives in the student-athlete's INFLCR app for efficient tax reporting.
INFLCR President Jim Cavale, a leading voice in NIL, lauded UC's move. "INFLCR's Local Exchange provides additional value in NIL with many of our existing and new customers, with Cincinnati now included," said Cavale. "Our partners are so far ahead of the curve; I'm just humbled by the trust that they've placed in us and our platform."
During the 2021-22 school year, more than 100 Cincinnati student-athletes profited from NIL deals and athletes from all 18 Bearcats' sports were represented. Among the deals signed by student-athletes, included agreements with Range Rover, Beats by Dre, Dr. Pepper and Skyline, which signed the entire football offensive line to a promotional agreement, that included a weekly commercial series.
Cincinnati's partnership with INFLCR to create Bearcats Exchange will create more opportunities for student-athletes to find success off the field and profit off their NIL.
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// ABOUT CINCINNATI ATHLETICS
The University of Cincinnati Department of Athletics competes at the highest level of intercollegiate athletics with the vision to reach Next Level Success for all 18 varsity teams and more than 500 student-athletes. The Bearcats have a proud athletics history, winning eight national championships and 117 conference titles. The Cincinnati men's basketball team is among the 15 winningest programs all-time, while the football team became the first American Athletic Conference program to compete in the College Football Playoff in 2021. Olympic gold medalist volleyball player Jordan Thompson, NBA Hall of Famer Oscar Robertson and Major League Baseball legend Sandy Koufax are among the several luminaries who have competed as Bearcats.
UC student-athletes collectively posted a 3.369 overall GPA in the spring of 2021 with 77 percent earning spots on the Honor Roll, while six student-athletes collected CoSIDA Academic All-America accolades.
Under the leadership of Director of Athletics John Cunningham, and supported by more than 150 full-time staff members, UC Athletics' mission is to connect our community, enhance our University and impact the lives of student-athletes as they prepare to change the world on and off the field. For more information visit gobearcats.com.
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August 23, 2022 at 02:00PM
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Cincinnati Athletics Launches Bearcats NIL Exchange - University of Cincinnati Athletics - University of Cincinnati Athletics
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