Name, Image, and Likeness (NIL) guidelines allow Student-Athletes (SA) to earn compensation for the use of their name, image and likeness, and prohibits post-secondary institutions from preventing athletes from earning money or goods.
What qualifies as Name Image and Likeness (NIL)?
Student Athletes are able to trade fair services to profit off of their NIL. This includes, but is not exclusive to:
SA allowed to provide endorsements, appearances, autographs, and selling of merchandise.
Must follow institution, state, and federal NIL laws.
Institutions must allow SA to pursue NIL opportunities unimpeded.
Can use a professional services provider for NIL activities.
Schools cannot compensate SA's for their name, image, or likeness.
What happens if a Student Athlete makes NIL deals outside of compliance?
Our primary concern is to ensure all LockerRoom Student-Athletes maintain NCAA eligibility. Therefore, we put a lot of work into making sure that ALL LockerRoom Student-Athletes are aware of the current NIL rules for school, state, and federal compliance. If a student athlete breaches the NIL rules, they could put their scholarship and/or eligibility at risk. We strongly recommend student athletes consult with their school compliance team for any NIL projects.
How do I register with LockerRoom?
The following process needs to occur in order to become a LockerRoom Student-Athlete:
The school you are a student of needs to be associated with and sign and agreement with LockerRoom Athletics Lt. Co.
Student athlete will download the LockerRoom NIL app from the iOS App Store or Google Play Store and follow the instructions to complete their profile.
Student athlete needs to the LockerRoom Agency Agreement and provide a W9 tax form.
Student athlete must submit contractor information to LockerRoom accounting.
How often do I get paid?
Student athletes are paid out monthly on the last business day of the month provided one or more of the following conditions have been met:
Student athlete has received individual sponsorship.
Student athlete is a member of a team which has received sponsorship and the team pool has been funded to the amount of $100/athlete.
How much will I get paid?
Payments depend on how much merchants or sponsors have contributed to the LockerRoom platform. Team cash will be paid out to student athletes once the pool has been funded to a minimum of $100 per athlete. Team cash payouts beyond $100 per athlete will not be capped.
How is LockerRoom money distributed to student athletes?
Money is distributed based on merchant or sponsor designation. Merchants and sponsors can provide sponsorships to individual athletes, teams, entire universities, or the LockerRoom platform as a whole.
What are student athletes required to do in order to get paid?
Every student athlete who receives funds from LockerRoom is required to return fair value of services. This could include but is not exclusive to:
Advertise and promote: Use social media platforms to advertise and promote brands, products, and services.
Sell merchandise: Sell autographed merchandise and items to sponsors.
Provide services: Provide personal coaching services, speaking engagements, and personal appearances of LockerRoom sponsors, corporate partners, and advertisers.
How are Student-Athletes paid?
Student athletes connect their bank (ACH) or Venmo account to the app and LockerRoom distributes the funds to their preferred method.
Who can participate in LockerRoom?
LockerRoom is for all student athletes actively participating in NCAA sanctioned sports. The institution you attend must be an official LockerRoom partner before you can participate.
What if my school isn't an official LockerRoom partner?
Why would I register with LockerRoom instead of an agent?
LockerRoom is a platform intended to help every student athlete capitalize on their name, image, and likeness. Our athlete agency agreement is non-exclusive so if you have already signed with an agency, you can still register with LockerRoom provided the agency you are signed with does not prevent it.
How does LockerRoom make money?
LockerRoom is a for profit company that aggregates and distributes NIL dollars on behalf of schools and student athletes. For this service, LockerRoom retains a small percentage of every payment to maintain and scale our products and services. This percentage changes based on the service provided.
If you are experiencing a technical issue, or you need additional assistance with the LockerRoom app, please contact our support team