In light of the recent ruling that enables college athletes to profit from their name, image, and likeness, a new college basketball tournament is set to offer players the chance to earn money. According to CBS Sports, Las Vegas will host an eight-team Thanksgiving weekend tournament featuring programs from some of the NCAA’s top conferences. Each participating school will receive $1 million to distribute among its players. Among the schools expected to participate are Alabama, Houston, Notre Dame, Oregon, Rutgers, San Diego State and Texas A&M.
Players in the tournament would need to engage in off-court activities to earn sponsorship money. The event organizers, known as the Players Era Festival, have assured universities that the tournament will adhere to NCAA guidelines. One coach from a participating school expressed excitement about the opportunity and said it would be foolish not to participate if invited. Although schools are prohibited from directly compensating their players for their name or image, many have established collectives to raise funds on behalf of athletes.
The rise in player transfers has been fueled by the NCAA’s decision to allow players to transfer once without sitting out a season and the ability for them to sign sponsorship deals. NIL deals specifically for basketball and football players have reportedly reached millions of dollars. The NCAA’s shift in stance on amateurism with its decision in 2021 marked a significant change in policy.