A new eight-team college basketball tournament will be held in Las Vegas during Thanksgiving week, and the $1 million check San Diego State University's NIL collective may receive from it is quickly moving from idea to reality.
Jeff Smith, co-founder of SDSU's MESA Foundation Collective, said, “We certainly feel like everything is moving in the right direction and that all parties have worked together to make decisions to make it a success.” “I will.” “It looks like they're making progress. I hear they're in the final stages.”
Smith said SDSU has been working on it for “a few weeks.” CBS Sports reported earlier Tuesday that six other teams — Alabama, Houston, Notre Dame, Oregon, Rutgers and Texas A&M — are “participating,” with an official announcement later this month for what's being called the Players Era Festival. was reported to be scheduled.
Each participating program's NIL Collective will receive $1 million in exchange for player marketing efforts before and during the tournament to comply with NCAA rules prohibiting direct playing compensation payments from universities. The champion could earn as much as $1 million more.
According to a report from CBS Sports, the event organizer is MGM Resorts International and one of three venues: T-Mobile Arena in Las Vegas, MGM Grand Garden Arena, or Michelob Ultra Arena at Mandalay Bay Resort. They are said to be negotiating to have the match held in Japan.
Matches will take place on November 26, 27 and 29. Closed Tuesday, Wednesday, and Friday for Thanksgiving. This is to avoid the fatigue of playing three games in three days, which coaches fear at events such as the Maui Invitational.
This is considered an MTE. This is a multi-team event held during the non-conference season and typically involves one representative from each conference. The school allows him to play in one of his MTEs.
This explains why the Aztecs were originally participating in the four-team 2024 Acresure Classic in the Palm Springs area over Thanksgiving against USC, St. Explains why New Mexico State represented the Mountain West.
There is a similar conflict at the Rady Children's Invitational at UCSD's Lion Tree Arena, which has already sold tickets for the 2024 stadium, which includes Notre Dame. The penalty for breaking the contract is estimated to be $100,000 per game, or $200,000 in total.
“Notre Dame has not said they are withdrawing from our tournament,” said Mark Neville, CEO of Sports San Diego Group, which organizes the event. “That would be news to us.”
Smith said SDSU has signed a three-year deal with the new conference in Las Vegas, with plans to expand from eight to 16 teams in 2025 and 2026. Schools mentioned include Duke, Kansas, Gonzaga and, yes, Virginia, home of the new transfer portal. Former Aztec national team forward Elijah Sanders.
The format is still being determined, likely considering NCAA rules that allow each school to play in the same MTE only once every four years. For example, eight teams could be split into separate four-team tournaments with different names and venues. The following year, I will be competing in another event. Other options include a round-robin format or an eight-team bracket with repechage.
But what makes the Players Era Festival unique is the seven-figure NIL payday given to a collective representing the participating teams. CBS Sports said the financial support came from Redbird International Media Investments, which has ties to a United Arab Emirates wealth fund.
Nonconference college basketball tournaments have traditionally been made-for-TV events in remote locations with sparse crowds. This is an attempt to disrupt the model of streaming partners and deep-pocketed investors who are likely willing to take losses initially to gain market control.
For SDSU, it would be a huge infusion of money into the basketball corps, but despite a tireless effort to double its budget from last season to about $1 million, it still remains an NIL resource for many power conference programs. It doesn't come close to that. This spring, there are reports that some top players were individually paid $1 million per season.
“We're excited about this,” said Smith of the MESA Foundation. “The fact that eight teams were selected and we were the West Coast selection is huge for us. It's a testament to the program. It's really, really the perfect time for MESA and the Aztec NIL effort. This is , which will be of great help in planning for 2025-26 and beyond.”
The field in Las Vegas and its high payout may also help land the final piece of next season's roster.
SDSU lost three rotation spots that remained eligible via the transfer portal: Lamont Butler to Kentucky, Micah Parrish to Ohio State and Sanders to Virginia. All three are believed to have received mid-six-figure NIL offers, and there is no guarantee that any of them will start in their new field.
The Aztecs have three players committed: Florida Atlantic guard Nick Boyd, Middle Tennessee center Jared Coleman-Jones and USD guard Wayne McKinney III. This leaves one scholarship available for next season, which will most likely be replaced by a veteran forward.
Staff writer Kirk Kenney contributed to this report.