An upcoming college basketball tournament in Las Vegas promises to offer players a unique opportunity to monetize their name, image, and likeness. The eight-team event, scheduled for Thanksgiving weekend, will feature top NCAA conference programs such as Alabama, Houston, Notre Dame, Oregon, Rutgers, San Diego State, and Texas A&M. Each team will receive $1 million to distribute among players who participate in off-court activities to earn sponsorship money.
Organizers of the Players Era Festival have assured universities that the tournament will comply with NCAA rules. However, schools cannot directly pay players for their NIL deals but have formed collectives to fundraise on their behalf. With the ability to transfer once without sitting out a season, many players are now making decisions based on monetization rather than playing opportunities or facilities. NIL deals for basketball and football players have reached millions since the NCAA’s decision to allow sponsorship deals in 2021.
The new policy marks a significant shift in NCAA policy as the organization previously prohibited players from signing such deals while maintaining an amateurism model. The new rules allow players to capitalize on their name, image, and likeness opening up new opportunities for athletes to benefit financially during their college careers.
