NCAA to have an NIL tournament with up to $2 million in prize money / News - Basketnews.com

Eight teams will compete for a prize of 1$ million in NIL deals. Each of the eight schools will receive $1 million for participating.

Credit: Grant Halverson/Getty Images North America/Getty Images via AFP - Scanpix Credit Grant Halverson/Getty Images North America/Getty Images via AFP - Scanpix

The introduction of the Name, Image, Likeness (NIL) reform brought sweeping changes to the NCAA. It's about to take on another level.

A tournament is going to take place starting next season, where eight college men basketball teams, a number that will expand to 16 teams in 2025, will compete for a reward in NIL deals, Front Office Sports report.

The tournament was named 'Players Era'. Each school participating in it will receive $1 million in NIL promotions as a reward. The money will be directed to multiple NIL entities and then distributed by coaches and teams to their players by how they see fit.

The winning team will earn an additional $1 million, boosting the total amount of money a school can take away from the tournament to $2 million.

The tournament's organizers are currently in talks with Alabama, Duke, FAU, Houston, Kansas, Oregon, San Diego State, St. John’s, Syracuse, and Virginia about a possible participation, Front Office Sports writes.

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