The NCAA’s new college basketball tournament in Las Vegas will allow players to profit from their name, image, and likeness, according to reports. Eight teams from the top conferences will participate, each receiving $1 million to distribute among players. Among the participating schools are Alabama, Houston, Notre Dame, Oregon, Rutgers, San Diego State and Texas A&M. To earn sponsorship money, players must engage in off-court activities that comply with NCAA rules.
The tournament marks a significant shift from the NCAA’s previous stance on amateurism which strictly prohibited players from signing sponsorship deals. However, recent developments have seen a move towards allowing players to monetize their name, image and likeness. This change has resulted in an increase in player transfers as they prioritize financial gain when choosing where to play. NIL deals for basketball and football players have reportedly reached millions following the NCAA’s decision to allow sponsorship deals in 2021.
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