Teams that make a deep run in Fox’s inaugural College Basketball Crown tournament are in for a decent payday.
Sports Business Journal reported on Tuesday that the tournament will feature a $500,000 NIL prize pool that will be distributed across the top four finishers. The winning school will receive $300,000, second place will earn $100,000, and the third and fourth place teams will pocket $50,000 each.
Ticketing company Vivid Seats is fronting the NIL money. It’s unclear exactly how funds will be distributed among the players, but it will involve athletes acting as “brand ambassadors on behalf of Vivid Seats through varying marketing campaigns, including social media activations and more,” according to SBJ.
The College Basketball Crown was created as a joint venture between Fox, who will broadcast the tournament, and event presenter AEG. The field of 16 consists primarily of teams from the Big Ten, Big 12, and Big East — conferences which have media rights agreements with Fox — that did not make the NCAA Tournament.
The competition will take place following Elite Eight action this weekend, with the championship game slated for Sunday, April 6, the day before the NCAA Tournament will crown a champion.
Fox’s new tournament has already had one knock-on effect on college basketball before a single game has even been played. The College Basketball Crown has essentially relegated the NIT to a mid-major tournament, with just three power conference schools competing in the field this year.
Whether the Crown can stake its claim as a true “best of the rest” tournament remains to be seen. But the NIL-factor will certainly add a bit of intrigue for the players and teams involved.
