Plans are nearly finalized for a first-of-its-kind, NIL-driven in-season men's college basketball tournament slated to be played in Las Vegas this November.
According to CBS Sports, the "Players Era Festival" event, which will also include live music and other attractions on the Las Vegas Strip during Thanksgiving week, will include $1 million in NIL payouts for eight participating schools, as well as opportunities for players to land long-term NIL contracts.
Alabama, Houston, Notre Dame, Oregon, Rutgers, San Diego State and Texas A&M are all on board, sources told CBS Sports. The eighth and final school for the 2024 event will emerge from a small group that is still being deliberated.
The tournament is expected to double in size in 2025 and beyond, and Duke, Gonzaga, Kansas, Michigan, Syracuse and Virginia have all been in discussions about playing next year.
Event organizers are currently in talks to land T-Mobile Arena, MGM Grand Garden Arena and Michelob ULTRA Arena as host sites for the games. Games will be played on Nov. 26, 27 and 29, with Thanksgiving held as an off-day.
Each participating would be paid $1 million toward their respective NIL collective, while and additional $1 million would be awarded exclusively to the winners of the event.
"If there are events where there's an extraordinary amount of money involved, and there's no donor fatigue involved in this, how do you not play in this?" one coach participating in the Players Era Festival told CBS Sports. "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."
Broadcast rights for the games have yet to be secured and are expected to be shown on a streaming service instead of a traditional broadcasting channels.
