The University of Michigan took a big step into the world of NIL on Wednesday, announcing its VICTORS local exchange program. The program is designed to connect athletes with registered businesses or individuals wishing to connect with University of Michigan student-athletes.
You can read UM’s full press release below:
ANN ARBOUR, Mich. — Through its partnership with the INFLCR, the University of Michigan today (February 9) opened its VICTORS local exchange program to the public to expand its ongoing Name, Image, and Likeness (NIL) program for student-athletes.
The first NCAA school to offer a uniform jersey licensing program for its student-athletes, the University of Michigan has leveraged numerous business relationships into innovative partnerships and educational opportunities since NIL went into effect in July 2021. Now, other companies can apply for opportunities to partner with UM student-athletes to reach global audiences through a streamlined process on the VICTORS local exchange.
The VICTORS Local Exchange is a student-athlete NIL business registry, tailor-made for businesses, donors, alumni, and other interested NIL dollars wishing to connect specifically with University of Michigan student-athletes . Registered businesses can search, filter and initiate conversations with your student-athletes to discuss an NIL deal. Once the NIL agreement has been reached between a registered business and one or more student-athletes, the business will use the VICTORS exchange to create a transaction that directly pays the student-athlete (without any transaction fees) and automates a disclosure to the INFLCR Verified Compliance Registry.
“We are thrilled to partner with the INFLCR as part of our comprehensive and unique name, image and likeness program here at the University of Michigan,” said Kurt Svoboda, associate athletic director and spokesperson. of the department. “Our student-athletes have already engaged in a wide range of partnership opportunities in the first six months of NIL, and this addition to our program will make it easier for us to onboard other businesses.”
“The VICTORS local exchange connects the entire University of Michigan NIL strategy into a single system,” said INFLCR Founder and President Jim Cavale. “We are beyond excited to partner with Michigan and help equip their student-athletes with our core technology to help them grow their brands as well as our NIL solutions to help them capitalize on those efforts.”
Michigan’s VICTORS Program expands on UM’s existing student-athlete programs in the areas of academic and career achievement, health and wellness, education, leadership development, diversity equity and inclusion and personal branding programs hosted by institutional experts, including professors from the Ross Business School as well as other educators and business leaders from what is the largest network of living alumni of the country.
The INFLCR platform brings expertise in specific areas while working closely with UM’s internal team of experts to provide resources for student-athletes in the areas of education, access to NIL market exchange, infrastructure, agreement disclosure, compliance, content sharing and personal branding.
Michigan VICTORS Program Components
Education and personal branding
• Education and updates on name, image and likeness
• Basic principles of contract law
• Training of agents and representatives
• Personal finance and tax law
• Investment and resource management
• Business creation
• Education in social media and personal marketing
• Data analysis
• Brand strategies
Access to the NIL market
• Continuous information on market opportunities for student-athletes
• Complete digital systems for all aspects of NIL
Disclosure and Agreement Compliance
• Manage disclosures and compliance regulations
• Access to UM’s extensive photo and video libraries
For questions and inquiries
• Kurt Svoboda, Associate Director of Sports, External Communications and Public Relations