Matt Norlander of CBS Sports announced that a new NIL-driven college basketball tournament will begin next season with eight teams, expanding to sixteen teams in 2025. What does this entail?
Each participating school will receive $1 million in NIL payouts. Players will also have future earning opportunities through long-term NIL contracts.
Top college basketball teams will be involved. In 2024, Alabama, Houston, Notre Dame, Oregon, Rutgers, San Diego State, Texas A&M, and one other program will participate. For 2025, Duke, Gonzaga, Kansas, Michigan, Syracuse, and Virginia are in talks to join, potentially alongside most of the 2024 participants, as many of these schools have signed three-year deals for the tournament.
The tournament will take place in Las Vegas, with venues under consideration including T-Mobile Arena, MGM Grand Garden Arena, and Michelob ULTRA Arena. The games are scheduled for November 26th, 27th, and 29th, with no games on Thanksgiving.
The event, expected to be named the “Players Era Festival,” will feature live music and other attractions. It is being organized by EverWonder Studio, a production company based in New York.
