College sports have seen a surge in new investment since the NIL (name, image, and likeness) regulations were passed and college basketball has been one of the highest profiters. NCAA basketball is big business and with a long-list of Division 1 teams spread around the country, the possibilities are endless for companies looking to get into the game.
In a recent piece by Front Office Sports, the media outlet reported that a new in-season tournament is set to emerge next season. The format remains unclear but the investment will definitely be massive. The eight-team tournament will take place in Las Vegas and will incentivise participating teams with $1 million in NIL money just to participate. Those funds can be split between team players. The article also reported that the winning team would earn an additional $1 million in NIL deals.
College basketball's first-ever NIL payout tournament—called 'Players Era'—will be played at MGM Arena in Las Vegas.
Sources tell FOS the tournament organizers are in talks with:
• Alabama
• Duke
• FAU
• Houston
• Kansas
• Oregon
• San Diego State
• St. Joe's
• Syracuse… pic.twitter.com/AbQRkE9sCD— Front Office Sports (@FOS) March 8, 2024
There were 10 universities named that are interested in participating in the first year of the tournament including: Alabama, Duke, FAU, Houston, Kansas, Oregon, San Diego State, St. Joe’s, Syracuse and Virginia.
The schools mentioned above are some of the heavyweights in the world of college basketball with Duke and Syracuse traditional powerhouses. The emergence of a new tournament could be a threat to some of the current tournaments that exist. The Maui Invitational, for example, was founded in 1984 and may struggle to keep up with the figures we are seeing in other tournaments.
The landscape of college basketball is changing quickly and expect to continue seeing NIL transform the traditional format. It will not be surprising to see universities prioritizing well-funded tournaments over traditional tournaments.
