inside.hokiesports.com 25 WHAT IS AN “EXTRA BENEFIT”? An extra benefit is any special gift or arrangement by a Virginia Tech employee or booster to a prospect, a current student-athlete, or their relatives or friends not expressly authorized by the NCAA. Examples of impermissible extra benefits include, but are not limited to: • Cash or any type of gifts • Loans, cosigning of loans or use of credit cards • Vehicle or the use of a vehicle • Payment for or arrangement of transportation costs for the student • NIL activities must occur outside of participation in academic, athletic, or VT sponsored activities. • All NIL related compensation must be fair market value and only for work actually performed. • Compensation may not be provided in exchange for athletic performance, achievement or attendance at Virginia Tech. • VT logos or marks, including team issued uniforms, may not be used in NIL activities. • Any agent/attorney that represents a student-athlete must be registered with the state of Virginia and cleared by the Compliance Office. • A student-athlete may not participate in NIL activities that involve a prohibited item or substance listed in the Virginia Tech NIL protocol. *Please check with the Compliance Office to ensure all guidelines are the most recent version. NIL Q&A Q: May a booster or fan enter into an agreement with a VT student-athlete (“SA”) for the use of their name, image, or likeness in exchange for money, goods or services? Yes. Before entering such a contract, the SA is required to disclose any proposed agreement or activity to the Compliance Office. It is possible, and likely, that federal laws and NCAA legislation will ultimately provide a nationwide, uniform approach to NIL governance, at which point restrictions on these agreements are subject to change. Q: May VT employees assist me with arranging for student athletes to utilize their NIL for compensation with my business, etc.? Any VT employee must consult the Compliance Office before providing any assistance to a student-athlete related to an NIL activity. Q: Will VT assist SAs with other NIL-related issues? Yes. VT will have resources and programming to educate student athletes in how to maximize the use of their NIL for compensation, as well as understanding associated issues (e.g., financial literacy, debt management, time management, budgeting, academic resources, taxation). Q: May an SA receive NIL-compensation based on the SA’s athletic performance at VT? No. Q: May a booster or fan compensate an SA for the SA’s NIL when the SA is engaged in official team activities? No. For example, if an SA is at a fan event that has been organized by VT (e.g. Fan-Day), or at an away-from-home competition, you may not compensate the SA for the SA’s autograph or photo because the SA is engaged in official team activities. If the SA is participating in an activity that was organized by VT, then it is an official team activity. Q: Are there limitations on the compensation or opportunities that can be provided to an SA for use of their NIL? Continued on page 26 Continued from page 23 1290 Roanoke Street , Christiansburg, VA 24073 • 540-382-7500 • www.gandhappliance.com Find us at G&H Appliance G&H bringing you the best sauce and rub vendors on the market! Get yours today!! I N S T O C K N O W ! !
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