A new college basketball tournament in Las Vegas, dubbed the Players Era Festival, promises to give players the chance to earn money through their name, image and likeness. The eight-team event, set for Thanksgiving weekend, will feature top programs from NCAA conferences such as Alabama, Houston, Notre Dame, Oregon, Rutgers and San Diego State. Each program will receive $1 million to distribute among players who will be required to participate in some off-court activities to earn sponsorship money.
The organizers of the festival have assured universities that the tournament will comply with NCAA rules. While schools cannot directly pay players for their NIL rights, many 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 been reaching into the millions since the NCAA allowed sponsorship deals in 2021.
This marks a significant shift in NCAA policy as it previously prohibited players from signing such deals in favor of maintaining an amateurism model. Under the new rules, players can now capitalize on their name, image and likeness which opens up new opportunities for athletes to benefit financially during their college careers.