I’m game!
An epic college basketball tournament in Las Vegas, that will be played during the regular season and debuting later in 2024, is set to be finalized some time in May, according to CBS Sports.
And if that doesn’t sound flashy enough, here’s what really makes this tourney special: The winner potentially gets a crisp $2 million in NIL (name, image and likeness) money. And the players are getting paid, too, making it even better! (RELATED: Omarion Cooper Hilariously Transfers Back To Florida State After Just One Season With Deion Sanders & Co.)
Named the “Players Era Festival,” the tournament will be played in November, and it’s not just about basketball, either. Live music and several other attractions will also be featured. Oh, and by the way, all of this is happening during Thanksgiving week, when you know the Las Vegas Strip will be POPPIN’!
Making college history, the tournament will also be handing out $1 million in NIL money to the eight teams that participate (with the winner getting an extra $1 million), while the players will be given long-term NIL contracts that will give them future earning opportunities, per CBS Sports.
The teams set for 2024 are Notre Dame, Houston, Alabama, Texas A&M, Oregon, San Diego State and Rutgers, according to the outlet. An eighth team will be decided at a later date from a smaller group.
The Players Era Festival will be more than just a one-year event, with Duke, Kansas, Gonzaga, Virginia, Syracuse and Michigan being involved in conversations to possibly play in the 2025 edition of the tournament. And eventually, the event has plans to expand the field from eight to 16 teams. In other words, we can expect this flashy tournament to be around for a while!
NEWS—The revolutionary college basketball NIL tournament set to be staged this year is nearly finalized, sources tell @CBSSports. Seven of the eight schools are on board, and plans are to double the field to 16 in 2025. Details/reporting w/ @dennisdoddcbs:https://t.co/cFGRL1nkpt
— Matt Norlander (@MattNorlander) May 7, 2024
Per sources, the teams that have agreed to play in the Players Era Festival are: Alabama, Houston, Notre Dame, Oregon, Rutgers, San Diego State, Texas A&M. Each will be paid $1 million to participate. Huge additional NIL money will go to the winners. https://t.co/cFGRL1nSf1
— Matt Norlander (@MattNorlander) May 7, 2024
Direct pay-for-play is still against NCAA rules. The workaround here is all players will be paid after completing away-from-the-games endeavors while in Las Vegas.
“We will be very good about making sure this is fully compliant,” a source told CBS Sports.https://t.co/cFGRL1nkpt
— Matt Norlander (@MattNorlander) May 7, 2024
Final format of the event is TBD. Games are expected to air via streaming service, not linear TV. Said a coach participating: “There’s not a decision we make that’s not NIL-driven. I’ll play in the parking lot of Mandalay Bay, just clear the f—ing check.”https://t.co/cFGRL1nkpt
— Matt Norlander (@MattNorlander) May 7, 2024
More info: Duke, Gonzaga, Kansas, Michigan, Cuse & UVa have been contacted re: playing in this event in 2025. Sources from a few schools in that group told CBS Sports they anticipate playing in the event if it exists as planned w/ 16 teams in ’25. Details: https://t.co/cFGRL1nkpt
— Matt Norlander (@MattNorlander) May 8, 2024
The flash and dash is real in modern-day college sports!