A new app called myNILpay just launched enabling college sports fans to directly pay student-athletes. The startup says fans will receive “a unique digital asset featuring the athlete’s name and digital signature” in order meet NCAA compliance, which states that NIL payments are only permitted with a quid pro quo, relating to compensation for work performed.
In a press release announcing the new app on Thursday, myNILpay said Carolina Panthers quarterback Andy Dalton and his wife, Jordan, were making payments to all 450+ student-athletes at his alma mater, TCU. Former NFL coach Marvin Lewis and basketball Hall of Famer Nancy Lieberman are on the company board.
