Rutgers Basketball has reportedly accepted an invite to join the 2024 Players Era Tournament, a first of its kind NIL incentivized basketball tournament that will feature eight different programs.
What makes the tournament unique is that each participating team will receiver $1 million in NIL, along with a chance to earn another $1 million for the team if they win it all, depending on the bracket format.
The event is expected to be held on Thanksgiving weekend and will take place at one or all of the MGM Grand Garden Arena, T-Mobile Arena, or Michelob ULTRA Arena in Las Vegas. Per reports, EverWonder Studio and AND1 CEO Seth Berger will be in charge of operating the event.
Now technically the College Basketball Invitational has done something similar as they’ve made NIL agreements about year ago, where the winning school would receive $25,000, the runner-up received 10,000 and each team in the semifinals received $2,500. However the Players Era will be taking it up a notch offering the winning team, $1 million in NIL on top of the already guaranteed $1 million for each participating team.
According to reports, other schools that will participate include Alabama, Houston, Notre Dame, Oregon, San Diego State and Texas A&M. The tournament’s eighth and final participant has yet to be determined but will be chosen out of a small pool.
Now this tournament is expected to become a regular event as they plan on expanding to 16 teams for the 2024-25 season.
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