Report: Alabama, Houston Among Teams Set to Play in $1M NIL-Driven CBB Tournament

Alabama and Houston are among the teams "on board" to participate in a new regular-season college men's basketball tournament offering $1 million in NIL payouts, which is set to debut in Las Vegas during the week of Thanksgiving, Matt Norlander and Dennis Dodd reported for CBS Sports.

Rutgers, Notre Dame, Oregon, San Diego State and Texas A&M are also set to participate, with the eighth team yet to be decided, per Norlander and Dodd.

Dubbed the "Players Era Festival," the competition will offer players a shot at long-term NIL deals in addition to tournament payouts, Norlander and Dodd reported.

The tournament is expected to expand to 16 teams in 2025, with Virginia, Duke, Gonzaga, Syracuse, Michigan and Kansas among the schools in consideration for future tournaments, per Norlander and Dodd.

According to Norlander and Dodd, "many" of the seven schools planning to participate in the inaugural tournament this fall have already signed an agreement to play in the event for the next three years.

The tournament will offer the NIL collective connected with each competing school $1 million, with additional NIL money going toward the winner, Norlander and Dodd reported.

Collectives currently operate as third parties, although NCAA president Charlie Baker has previously discussed the idea of formally bringing them under the purview of the university, per On3's Eric Prisbell.

How schools' relationships with NIL collectives are defined could change by the time the Players Era Festival makes its debut if the NCAA decides to settle House v NCAA, an ongoing antitrust lawsuit that could change how the program shares revenue with student-athletes, before a scheduled court date in January 2025.

For now, athletes will have to participate in "off-the-court" activities in order to earn their share of the NIL payouts without violating NCAA policy, according to Norlander and Dodd.

According to the CBS Sports reporters, the event is tentatively set to take place at the Vegas Golden Knights' T-Mobile Arena, Las Vegas Aces' Michelob ULTRA Arena, and the MGM Grand Garden Arena located within the MGM Grand resort.

Organizers of the event expect the tournament to be broadcast on streaming services rather than traditional cable, per Norlander and Dodd.

Participation in the in-season tournament could present a recruiting advantage as schools to compete to sign players by offering them additional NIL opportunities.

The first edition of the tournament will hope to draw in more sponsors by featuring one of the best Rutgers recruiting classes in program history. Small forward Ace Bailey and shooting guard Dylan Harper, both five-star recruits projected as future NBA prospects, could be making their college tournament debut in the event.