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UK Athletics launches NIL business registry "BBNIL Exchange"

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  • UK Athletics launches NIL business registry "BBNIL Exchange"

    Kentucky is taking the next step in breaking into the new world of name, image, and likeness (NIL).

    On Thursday afternoon, UK Athletics announced the BBNIL Exchange, described as “a student-athlete NIL business registry, custom-designed for businesses, donors, alumni, and any other interested NIL dollars wishing to connect with student-athletes.” The BBNIL Exchange will allow businesses to apply for registration where, once approved, they can search through a catalog of Kentucky Wildcats student-athletes, reach out to them, and discuss potential NIL deals.

    According to UK Athletics, once a student-athlete and business agree upon a NIL deal and complete it, the payment will then be sent directly to the student-athlete.

    UK Athletics launches NIL business registry "BBNIL Exchange" (on3.com)
    "There is so much good in the worst of us, and so much bad in the best of us, that it behooves us all not to talk about the rest of us." Robert Louis Stevenson

  • #2
    Finally, some movement on the NIL front.
    "There is so much good in the worst of us, and so much bad in the best of us, that it behooves us all not to talk about the rest of us." Robert Louis Stevenson

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    • #3
      They have needed to treat this more like a business and this is a step forward. Hope these guys are getting financial help from a good CPA.
      Proverbs 25:24

      Comment


      • #4
        I hope this is a good thing...

        The KSR rumor is that this is about funneling some money to JMI rather than students.
        Aspirational...

        Originally posted by John Stuart Mill
        He who knows only his own side of the case knows little of that... He must be able to hear them from persons who actually believe them...he must know them in their most plausible and persuasive form.
        Originally posted by Charlie Munger
        I never allow myself to hold an opinion on anything that I don't know the other side's argument better than they do

        Comment


        • #5
          Originally posted by Spiritof96 View Post
          I hope this is a good thing...

          The KSR rumor is that this is about funneling some money to JMI rather than students.
          What is JMI?
          John 3:3

          Comment


          • #6
            Originally posted by Lighthouse View Post

            What is JMI?
            In 2015 the University of Kentucky entered a 15-year, $210 million agreement with JMI Sports, an innovator in sales, marketing, and project management services to universities and professional teams.
            UK Athletics corporate licensing partner. As I understand it UK was fronted significant money in the deal and then JMI is able to set up licensing deals where the money goes to JMI. i.e. The funds from sale of the name of Kroger Field went to JMI, not UK. UK may get a taste, I don't know exactly but that is the idea.

            Matt Jones has expressed concern that this registry is about providing a way for JMI to get some revenue from NIL deals, thus making our NIL activity more controlled and less quick, creative, and expansive than what other schools are doing.
            Aspirational...

            Originally posted by John Stuart Mill
            He who knows only his own side of the case knows little of that... He must be able to hear them from persons who actually believe them...he must know them in their most plausible and persuasive form.
            Originally posted by Charlie Munger
            I never allow myself to hold an opinion on anything that I don't know the other side's argument better than they do

            Comment


            • #7
              Originally posted by Spiritof96 View Post



              UK Athletics corporate licensing partner. As I understand it UK was fronted significant money in the deal and then JMI is able to set up licensing deals where the money goes to JMI. i.e. The funds from sale of the name of Kroger Field went to JMI, not UK. UK may get a taste, I don't know exactly but that is the idea.

              Matt Jones has expressed concern that this registry is about providing a way for JMI to get some revenue from NIL deals, thus making our NIL activity more controlled and less quick, creative, and expansive than what other schools are doing.
              Thanks. But NIL money would have nothing to do with licensing would it? I have a hard time believing Barnhart would agree to anything that would put any donated money in any pocket but the athletes.
              John 3:3

              Comment


              • #8
                Originally posted by Lighthouse View Post

                Thanks. But NIL money would have nothing to do with licensing would it? I have a hard time believing Barnhart would agree to anything that would put any donated money in any pocket but the athletes.
                NIL is not really different than pro sports with agents. Whatever the agent negotiates for the athlete, the agent gets a cut. If JMI is on the backend of the exchange brokering the deals, they are going to get their cut.

                This exchange is in direct competition with other private collectives working to get NIL deals for students. No other school is doing it this way...
                Aspirational...

                Originally posted by John Stuart Mill
                He who knows only his own side of the case knows little of that... He must be able to hear them from persons who actually believe them...he must know them in their most plausible and persuasive form.
                Originally posted by Charlie Munger
                I never allow myself to hold an opinion on anything that I don't know the other side's argument better than they do

                Comment


                • #9
                  Originally posted by Spiritof96 View Post

                  NIL is not really different than pro sports with agents. Whatever the agent negotiates for the athlete, the agent gets a cut. If JMI is on the backend of the exchange brokering the deals, they are going to get their cut.

                  This exchange is in direct competition with other private collectives working to get NIL deals for students. No other school is doing it this way...
                  I understand the cut, but is JMI involved? I haven't seen anything official saying they are.
                  John 3:3

                  Comment


                  • #10
                    Originally posted by Lighthouse View Post

                    I understand the cut, but is JMI involved? I haven't seen anything official saying they are.
                    My initial comment mentioned a "Rumor" that this was created to for JMI's benefit. That is the rumor based on Matt Jones scuttlebutt with people closer to the situation that we are.

                    Given how much JMI paid in that deal and how money flows to them through other channels at UK it's a plausible worry that this isnt' necessarily the best or most altruistic approach. Ultimately if it chokes off the free flow of NIL money such that in negatively impacts recruiting, it's a problem. And Barnhart has already had a smelly fart attitude about NIL which has put us behind in the SEC.
                    Aspirational...

                    Originally posted by John Stuart Mill
                    He who knows only his own side of the case knows little of that... He must be able to hear them from persons who actually believe them...he must know them in their most plausible and persuasive form.
                    Originally posted by Charlie Munger
                    I never allow myself to hold an opinion on anything that I don't know the other side's argument better than they do

                    Comment


                    • #11
                      Originally posted by Spiritof96 View Post

                      My initial comment mentioned a "Rumor" that this was created to for JMI's benefit. That is the rumor based on Matt Jones scuttlebutt with people closer to the situation that we are.

                      Given how much JMI paid in that deal and how money flows to them through other channels at UK it's a plausible worry that this isnt' necessarily the best or most altruistic approach. Ultimately if it chokes off the free flow of NIL money such that in negatively impacts recruiting, it's a problem. And Barnhart has already had a smelly fart attitude about NIL which has put us behind in the SEC.
                      So it is just a rumor. And Mitch is still our AD and I for one, am glad! OBTW, I'm impressed by all the fancy words, but I would understand better with more simple ones.
                      John 3:3

                      Comment


                      • #12
                        Originally posted by Lighthouse View Post
                        OBTW, I'm impressed by all the fancy words, but I would understand better with more simple ones.
                        I don't understand this sentence.
                        Aspirational...

                        Originally posted by John Stuart Mill
                        He who knows only his own side of the case knows little of that... He must be able to hear them from persons who actually believe them...he must know them in their most plausible and persuasive form.
                        Originally posted by Charlie Munger
                        I never allow myself to hold an opinion on anything that I don't know the other side's argument better than they do

                        Comment

                         

                        A Word From Our Founder

                        With the recent discussion of rules and what is and is not posted I set out to find what our mission statement originally was and this is what I found:...

                        UK Athletics launches NIL business registry "BBNIL Exchange"

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