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9 Things that Compliance Officers and Administrators Should Know About NIL Clubs
Mar 25, 2024
8 min read
1) What is an NIL Club?
An NIL Club is a unique, athlete-run fan community designed to financially benefit its member athletes. By subscribing to the club for a monthly fee, fans gain membership and access to exclusive content throughout the year.
2) How is the team involved with the NIL Club?
The athletes themselves are integral to the NIL Club. They work collaboratively to promote the club, generating and sharing content for its subscribers. Generated income is shared equally among the participating athletes each month.
3) What is YOKE?
YOKE is the company behind the innovative software that facilitates the NIL Club ecosystem. It enables student-athletes to earn additional income through fan subscriptions, with minimal distraction from their academic or athletic commitments.
4) What is the sign-up process for athletes?
Athletes can download the app at https://nilclub.com/app and then complete their registration through the NIL Club app. Upon joining, athletes must agree to our platform's terms of use. After setting up the app, they are all set to participate.
5) Can any athlete start an NIL Club?
Absolutely! We encourage athletes from any sport or school to launch an NIL Club. If your school isn't listed in the dropdown menu, simply get in touch with our support team to have it included.
6) How is quid pro quo established for this deal?
Athletes receive compensation from the club through three compliant activities
All athletes must contribute through all three of these methods to withdraw any earnings from the club.
- Use of their Name and Image on club materials
- Rendering promotional services to drive traffic to the club
- Licensing, contributing to, and publishing content for consumption by the members
All athletes must contribute through all three of these methods to withdraw any earnings from the club.
7) How do payouts for athletes work?
Payments are automatically disbursed equally to each participating athlete upon a fan’s subscription payment and student-athlete earnings can be withdrawn from the NIL Club App via Paypal or Venmo.
8) Who is in charge of managing the roster for the NIL Club?
The roster of the NIL Club is self-governed by the participating athletes themselves. They can manage their team's membership, including removing non-participating teammates, through the NIL Club App.
9) Does the NIL Club also facilitate brand deals?
This platform is designed to facilitate fan subscriptions exclusively. It doesn't facilitate brand deals. However, it provides a powerful way to earn income from fans in exchange for exclusive content.
