Alabama, Houston among teams set to play in $1 million NIL-driven CBB tournament

Alabama and Houston are among the teams “on board” to participate in a new regular-season men’s college basketball tournament offering $1 million in NIL payouts, set to debut in Las Vegas during Thanksgiving week , Matt Norlander and Dennis Dodd reported for CBS Sports.

Rutgers, Notre Dame, Oregon, San Diego State and Texas A&M are also expected to participate, with the eighth team still to be decided, according to Norlander and Dodd.

Dubbed the “Players Era Festival,” the competition will offer players a chance to secure long-term NIL deals in addition to tournament payouts, Norlander and Dodd reported.

The tournament is expected to expand to 16 teams in 2025, with Virginia, Duke, Gonzaga, Syracuse, Michigan and Kansas among the schools being considered for future tournaments, according to Norlander and Dodd.

According to Norlander and Dodd, “many” of the seven schools planning to participate in the inaugural tournament this fall have already signed an agreement to participate in the event for the next three years.

The tournament will provide the NIL collective tied to each competing school with $1 million, with additional NIL money paid to the winner, Norlander and Dodd reported.

The collectives currently operate as a third party, although NCAA President Charlie Baker has previously discussed the idea of ​​bringing them officially under the university umbrella, according to On3’s Eric Prisbell.

How schools’ relationships with NIL collectives are defined could change between now and the start of the Players Era Festival if the NCAA decides to move in. Home vs. NCAA, an ongoing antitrust lawsuit that could change how the program shares revenue with student-athletes, ahead of a scheduled court date in January 2025.

For now, athletes will have to participate in “off-field” activities in order to earn their share of NIL payments without violating NCAA policy, according to Norlander and Dodd.

According to CBS Sports reporters, the event is tentatively scheduled to take place at the Vegas Golden Knights’ T-Mobile Arena, the Las Vegas Aces’ Michelob ULTRA Arena and the MGM Grand Garden Arena located in the MGM Grand complex.

Event organizers expect the tournament to be broadcast on streaming services rather than traditional cable, according to Norlander and Dodd.

Participating in the in-season tournament could present a recruiting advantage, as schools would compete to recruit players by providing them with additional NIL opportunities.

The first edition of the tournament hopes to attract more sponsors by showcasing one of the best Rutgers recruiting classes in program history. Small forward Ace Bailey and shooting guard Dylan Harper, both five-star recruits projected as future NBA prospects, could make their college tournament debuts at this event.