The recent change in NCAA rules, allowing college athletes to earn money through their name, image, and likeness has opened up new opportunities for college basketball players. An eight-team tournament is set to take place in Las Vegas over the Thanksgiving weekend featuring programs from top conferences. Each participating team will receive $1 million to distribute among players.
The Players Era Festival organizers have assured universities that the event will follow NCAA rules and players will need to engage in off-court activities to earn sponsorship money. While schools cannot directly pay players for their NIL, many have formed collectives to raise funds for their players. Some coaches are excited about the tournament and the opportunities it presents for players.
The NCAA’s decision to allow player transfers once without sitting out a season has also led to an increase in player transfers. The rise in NIL deals for basketball and football players has reportedly reached into the millions, with players now often considering monetization when deciding where to play. This shift in allowing sponsorship deals marks a significant change for the NCAA, which had previously adhered to a strict amateurism model.
