Following NBA’s success in Vegas, men’s college basketball to award tournament winners with $2 million in NIL deals

NIL deals are to be used as motivation for a college basketball tournament to be held in Vegas.

Following NBA’s success in Vegas, men’s college basketball to award tournament winners with $2 million in NIL deals

A basketball tournament featuring NCAA college players and teams will be held in Vegas, prize money will be NIL deals

The NBA‘s In-Season Tournament was a resounding success. Not only did it bring about a heightened sense of competition between the regular seasons, but also commercially. 

But its biggest impact was in viewership and the fan following of the event. Now, promoters want to cash in on the fame. They want to conduct a college basketball tournament using NIL deals as motivation.

YouTube video

Front Office Sports revealed that a basketball tournament in Las Vegas is in the works, comprising college teams. EverWonder Studio and AND1‘s CEO of Basketball Operations, Seth Berger, will be operating the event. 

FS Video

The event will comprise eight college basketball teams participating in a tournament. In a proposal to boost the possibility of the top teams participating, they are offering NIL deals of $1 million to each team. Moreover, the winning team will receive another $1 million in prize money. 

To ensure that the players are willing to suit up, all the NIL deals will be distributed among them. How the players receive benefits from the money will be up to the decisions of their coaches, boosters, and staff. 

The college basketball scenario is rapidly becoming more and more competitive, with NIL deals pushing the envelope of student-athletes. This new tournament is seeking to expand to 16 teams next season. If the promoters can get the NIL deals they have guaranteed to the teams, others will be keen to join the fun. NCAA teams will find the opportunity lucrative.

After all, college players will relish the chance to earn some kind of money in their lives. Not everyone makes it to the NBA. For this very reason, the promoters are speaking with top college teams such as Alabama, Duke, Kansas, Syracuse, and Virginia to participate in the tournament. 

NIL deals leading the way in college basketball

The college basketball landscape was forever changed when the NCAA allowed college athletes to benefit from NIL deals. Since then, the NIL industry has ballooned to over $1 billion. 

As more and more brands desire to associate themselves with college athletes, the expectation is that the industry will only grow. The most notable deals have centered around college basketball players.

College women’s basketball stars Caitlin Clark and Angel Reese benefit a lot from their deals with top brands. Bronny James was reported to earn more than some NBA stars. The NCAA was even denied the opportunity to regulate NIL deals, paving the way for even bigger deals in the near future.

Now promoters want to use the NIL deals to host tournaments featuring college basketball players. Even though there are critics of these deals, it could be good for the players. Both financially and as another mark on their resume. 

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