Report: 2024 college hoops tourney to offer NIL money

A men's college basketball in-season tournament debuting this fall will provide name, image and likeness money to participating teams, Front Office Sports reported.

The Players Era tournament, as it will be called, will be held at the MGM Arena in Las Vegas and include eight teams before expanding to 16 in 2025, per the report. The event is being promoted by EverWonder Studio and Seth Berger, who co-founded sports apparel and footwear company AND1.

Participating schools will receive $1 million in NIL money, with an additional $1 million for the winning school.

Front Office Sports said teams will receive free travel and accommodations to Las Vegas. Organizers currently are talking to Alabama, Duke, FAU, Houston, Kansas, Oregon, San Diego State, St. John's, Syracuse and Virginia about potential participation, per the report.