Basepath Announces New Athlete Wallet Feature
Basepath Wallet is a mobile app that consolidates and analyzes student-athlete finances
Grand Rapids, Michigan (June 8, 2023) - Basepath, a platform dedicated to empowering athletes in the era of Name, Image, and Likeness (NIL) opportunities, is launching their newest product feature, Basepath Wallet. This application provides athletes with control over their incoming and ongoing NIL deals while addressing their pressing need for individual financial support.
Basepath spent the past 18 months developing a robust NIL operations platform that manages payments and tasks for athletes, collectives, foundations and NIL organizations. Now, they are supporting over 50 collectives and thousands of student-athletes, having processed over $10 million in NIL transactions.
Through experience and individual interviews with hundreds of student-athletes across Power 5 conferences, Basepath identified the critical areas of need for student-athlete financial support and education. With integrations including Plaid, Stripe, DocuSign, Mailchimp and Twilio, Basepath harmoniously incorporates fintech, contract management and operations, offering athletes the ultimate financial control while safeguarding their rights and interests.
Basepath Wallet now empowers athletes to seize their NIL opportunity and work towards financial freedom. It provides vital assistance in managing tasks and getting paid for marketing deals, which have become common NIL activities. Basepath tracks all payments and deliverables, sending notifications for due dates and payments. By seamlessly integrating with athletes' bank accounts, it simplifies an estimation of tax liabilities and offers comprehensive support for athletes filing taxes as 1099 contractors.
“This will be huge, especially the taxes part,” said Michigan State University (MSU) football player and Basepath user, Tre Mosley. “A lot of athletes may not have the expertise when it comes to paying taxes... they have to help themselves.”
Mosley added, “that is something that would be great to have… whenever you have opportunities to manage your money and see it on your phone, you can’t really beat that.”
His teammate, fellow MSU Football player Keyshawn Blackstock, agreed.
“I don’t use anything else because I trust Basepath,” said Blackstock. “Basepath will keep you updated… when I get deals, it tells you the amount and what you have to do.”
Blackstock continued, “it’s on time with everything [and] everybody can benefit from it… you can’t lose anything, it’s just more knowledge to you that can help in the long run.”
Basepath Wallet comes in addition to the operations software Basepath has built for NIL organizations. The technology facilitates task management and streamlining payments for collectives, agents and other student-athlete sponsors. The software centralizes collective operations, providing a structure for athletes to maximize their NIL opportunities while maintaining financial stability. Basepath's intuitive interface, real-time visibility and convenient integrations redefine how NIL organizations manage their contracts and finances, enabling them to focus on supporting their student-athletes.
"We are thrilled to unveil Basepath Wallet, a solution that provides athletes the tools and support to navigate the complex landscape of NIL finances with confidence," said Basepath Founder and CEO Thomas Thomas Jr. “We’ve worked with thousands of athletes to build an operational foundation that protects their financial interests as they capitalize on their NIL ventures."
Overall, Basepath's commitment to addressing the diverse needs of athletes, universities and collectives sets it apart as a comprehensive solution in the ever-evolving NIL space.
###
ABOUT BASEPATH
Basepath helps further operationalize and scale NIL organizations such as collectives, booster clubs, universities and sports agencies by automating deal processes for athletes and sponsors. Customers include University of South Carolina Collective Garnet Trust, University of Louisville 502Circle Collective and 502Circle Foundation, University of Minnesota Collective Dinkytown, FAU Paradise Collective and Iowa State We Will Collective. For more information about Basepath, visit www.basepath.com or its pages on Instagram, LinkedIn, Twitter and Facebook.
