Saints March On, the endorsed name, image, and likeness collective of Siena, is actively seeking additional ways to provide financial support to Siena athletes, including those who are not basketball players.
In an exciting new development, Saints March On has partnered with myNILpay, a recently established company that prides itself as the first digital platform enabling fans to directly and compliantly pay NCAA athletes. This collaboration marks myNILpay’s first publicly disclosed deal with a collective, with more exciting announcements on the horizon according to CEO Brent Chapman.
Chapman shared that his introduction to Saints March On co-founder Frank Ambrose was met with great enthusiasm. He believes that myNILpay’s services perfectly complement the collective’s efforts by expanding their reach to a broader spectrum of student athletes. Chapman, who has a background in financial services technology and is based in Frisco, Texas, acknowledged the challenges faced by smaller collectives in adequately serving all their athletes compared to the top five collectives in the country.
Up until now, Saints March On’s focus has predominantly been on supporting the men’s and women’s basketball teams, which are the highest-profile sports at Siena. However, myNILpay’s app encompasses a comprehensive database of approximately 500,000 NCAA athletes across all sports divisions. Users interested in making a payment can select their chosen athlete and the desired amount. Once the athlete signs up with myNILpay, they receive an email notification, and the money is directly deposited into their bank account.
Chapman likened myNILpay’s application to Venmo for college athletes. To comply with NCAA rules, which stipulate that athletes must provide a service in exchange for money, the payer receives a unique digital art piece featuring the athlete’s name and digital signature, similar to an autograph.
The myNILpay app allows for transactions of up to $5,000 per transaction, which are taxable. For larger amounts, myNILpay has an alternative process in place. Athletes receive 90 percent of the transaction, with myNILpay taking a four-percent cut.
Chapman further emphasized his commitment to transparency and compliance by consulting with NCAA President Charlie Baker, who raised no objections. He also sought the guidance of his own legal team and engaged colleges’ compliance departments.
When approached for comment, an NCAA spokesperson declined.
Ambrose expressed his intrigue at myNILpay’s focus on mid-major schools that often lack the same resources as larger athletic programs. He believes that athletes from smaller sports such as Siena’s baseball team could leverage their social media presence by sharing video highlights alongside their myNILpay account link.
Although Siena athletes have yet to sign up, Ambrose remains optimistic and committed to providing support to all athletes, not just in basketball. He views these opportunities as avenues for empowering and educating athletes who may be interested but unsure of how to navigate the process.
Chapman highlighted the potential benefits for women’s sports, citing the involvement of basketball Hall of Famer Nancy Lieberman on myNILpay’s board of directors. He acknowledged that without myNILpay’s focus on diversity, the majority of collective money typically goes to men’s sports, as it is often the most well-resourced. Therefore, he sees this collaboration as an opportunity to level the playing field and support athletes across various sports.
While Saints March On can rely on alumni and donor support, Chapman believes that myNILpay can fill the gaps, reaching even those who are not die-hard Siena fans.
He emphasized the inclusivity of myNILpay, stating, “Who do we have access to? Everybody else. The T-shirt fans, the guy watching on TV. Somebody that had Siena in their NCAA bracket years ago and won some money. And now they like Siena and like green and yellow and they’re contributing. Who cares why? The point is we expand to that sort of T-shirt fans that can support the student-athletes at Siena.”
In conclusion, this partnership between Saints March On and myNILpay represents a significant step forward in providing financial opportunities for Siena athletes beyond basketball. The collaboration aims to support athletes from diverse sports, promote inclusivity, and empower athletes to benefit from their name, image, and likeness.
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