Vegas Hosts First-of-its-kind NIL Basketball Tournament: Inside the New College Athlete Money Making Opportunities

In the wake of the recent ruling that allows college athletes to profit from their name, image, and likeness, a new college basketball tournament is set to provide players with an opportunity to earn money. According to reports, Las Vegas will host an eight-team Thanksgiving weekend tournament featuring programs from the NCAA’s top conferences. Each participating school will receive $1 million to distribute among its players.

Players involved in the tournament would be required to engage in off-court activities to earn sponsorship money. The event organizers have assured universities that the tournament will operate within NCAA guidelines. One coach from a participating school expressed excitement for the opportunity, stating that it would be unwise not to participate if invited. While schools cannot directly pay their players for their name, image, or likeness, many have established collectives to raise funds on behalf of the athletes.

The NCAA’s decision to allow players to engage in sponsorship opportunities signaled a major shift in the organization’s stance on amateurism, which had previously been strictly enforced. The rise in player transfers due to this change has led athletes to increasingly prioritize monetization when selecting schools. NIL deals specifically for basketball and football players have reportedly reached millions of dollars.