Warde Manuel, U-M send out update on NIL collectives
The cries from the Michigan fanbase appear to be working as the University of Michigan has formally recognized the NIL efforts happening behind the scenes.
U-M athletic director Warde Manuel released an update on Friday on NIL in Ann Arbor and recognized efforts made by collectives.
The update is as follows:
With Michigan athletic teams representing this world-class institution at the highest level of intercollegiate athletics, consistently adding to and expanding school records in competition and graduation rates, I can state unequivocally that it is Great to Be a Michigan Wolverine!
Intercollegiate athletics continues to see rapid change at all levels - from rules interpretations and eligibility to strengthening the student-athlete experience and the rights of our young people. Among the many changes, the adoption and rapid evolution of Name, Image and Likeness (NIL) rules dominate headlines and discussions with those who care deeply about our teams.
Since July 2021, student-athletes have been able to earn compensation for the use of their NIL in the context of promotional activities and endorsements, appearances, camps and lessons, autographed materials, NFTs and other digital collectibles, trading cards, and other licensed items, such as the many options available through The M Den, our official merchandise retailer.
As the first NCAA school to provide 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. Michigan’s public-facing NIL business platform, the VICTORS Exchange, is the nation’s largest local exchange platform of any INFLCR partner school and achieved that standing just two days following its launch in 2021.
Updated guidance from the NCAA national office has expanded the scope of NIL offerings to entities known as collectives, which are third-party groups external to Michigan Athletics but who combine resources and expertise to provide NIL opportunities to our students. At this time, Michigan Athletics enjoys the support of four collectives, each notable in their own ways, that are actively working to provide our student-athletes with NIL opportunities.
They are:
In keeping with our values and full support of a positive student-athlete experience here at Michigan, we welcome your support of these four organizations and the continued financial support of our partners, fans and supporters in ensuring that Michigan student-athletes continue to be the Leaders and Best!
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