The NCAA has announced a new college basketball tournament in Las Vegas that will allow players to earn money through their name, image, and likeness. This is a significant shift in NCAA policy as it previously prohibited players from signing such deals in favor of maintaining an amateurism model.
The tournament, set to take place over Thanksgiving weekend, will feature programs from top NCAA conferences such as Alabama, Houston, Notre Dame, Oregon, Rutgers, San Diego State, and Texas A&M. 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.
Players can now monetize their name, image and likeness which opens up new opportunities for athletes to benefit financially during their college careers. While schools cannot directly pay players for their NIL deals, some have formed collectives to fundraise on players’ behalf. With the ability to transfer once without sitting out a season, many players are making decisions based on monetization rather than playing opportunities or facilities. NIL deals for basketball and football players have reached into the millions since the NCAA’s decision to allow sponsorship deals in 2021.
The Players Era Festival organizers have reassured universities that the tournament will comply with NCAA rules and many participating coaches are supportive of the opportunity for players to cash in. This new policy provides athletes with more financial freedom during their college careers while still maintaining the integrity of amateur sports.
