UCLA Athletics Launches Official NIL Marketplace 'Westwood Exchange'
UCLA student-athletes have been signing name, image and likeness deals since it became permitted by the NCAA in July 2021, and the sponsorships have hardly slowed down since.
UCLA football quarterback Dorian Thompson-Robinson has a deal with Crocs and is a client of JAY-Z's Roc Nation agency, his backup Chase Griffin was named Opendorse's NIL Male Athlete of the Year and receiver Kam Brown has a deal with Mercedes-Benz. UCLA men's basketball point guard Tyger Campbell had his own signature meals at Fat Sal's and Honeybee Burger, and UCLA women's soccer forward Reilyn Turner became the first college athlete to sign a deal with Nike.
Now, nearly 10 months after the floodgates opened, the Bruins are taking a major step forward on the upper levels.
UCLA Athletics announced it had launched "The Westwood Exchange" on Thursday, an NIL marketplace designed to connect alumni, business owners and sponsors with the student-athletes who call Westwood home. Schools directly paying student-athletes is still not allowed under NCAA rules, and there are restrictions in how hands-on they can be in NIL dealings, but the Bruins are now joining other high-profile universities by taking strides to streamline and spread the opportunity.
UCLA had been working with several third-party companies – such as INFLCR and COMPASS – to organize NIL deals on an internal level, but "Westwood Exchange" marks an entry into the public marketplace.
“We are excited to add Westwood Exchange to our NIL programming," athletic director Martin Jarmond said in a statement released by UCLA Athletics. "This streamlined process enables alumni, fans and local businesses to engage with our student-athletes like never before. Exchange gives our student-athletes direct access to Bruin Nation and vice versa. We are looking forward to seeing the synergy between our supporters and student-athletes moving forward.”
By adding "Westwood Exchange" as one of the biggest pieces to the NIL puzzle on campus, UCLA has further built out its "Westwood Ascent" program. "Westwood Ascent" focuses on education, brand-building and monitoring and disclosure regarding student-athletes and their NIL pursuits, and that will remain in place with the addition of "Westwood Exchange."
Every UCLA student-athlete will be listed in the "Westwood Exchange" database, unless they choose to opt out. Companies and individuals will be able to access this database after registering with the university, and all payment and tax work can be processed through it as well.
The new system is described as follows on its official site:
"The Westwood Exchange is a student-athlete NIL business registry, custom-designed for businesses, donors, alumni, and any other interested NIL dollars wishing to connect with student-athletes. Registered businesses can search, filter and initiate conversations with your student-athletes to discuss an NIL deal. Once the NIL deal between a registered business and your student-athlete is completed, the business will use the Westwood Exchange to create a transaction that will produce a direct payment to the student-athlete and automate a disclosure to the INFLCR Verified Compliance Ledger. The institution does not have to get involved in the deal and all transactions within the Westwood Exchange are consolidated into one 1099 at the end of the year for easier tax reporting purposes for registered businesses and athletes."
UCLA track & field sprinter Shae Anderson and UCLA football recruiting analyst Josh Irvin were among the earliest to publicly applaud the introduction of "Westwood Exchange," highlighting how it can open even more doors to student-athletes on every team.
“Over the past 10 months, our student-athletes have seized the opportunity to maximize their name, image and likeness and the unique opportunities available in Los Angeles and beyond," associate athletic director of compliance Erin Adkins said in a statement. "The launch of Westwood Exchange takes us to the next level by placing NIL squarely at the fingertips of Bruin supporters and student-athletes."
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