Syracuse basketball is set to participate in a Las Vegas event in 2025 that promises substantial payouts through name, image, and likeness (NIL) deals. The tournament, known as the “Players Era Festival,” will award each participating team a $1 million payout to their respective NIL collectives.
Earlier this week, Sportico’s Daniel Libit reported on an NCAA memo that suggests this event could face challenges, potentially raising doubts about the tournament’s future. The 2024 version of the Players Era Festival is scheduled for November 26-29 in Las Vegas, featuring eight teams, each receiving a $1 million payout. Syracuse has confirmed its participation in the 2025 edition, with its NIL collective, Orange United, handling the arrangements.
EXCLUSIVE: Our @DAMNTWIN has learned a deal is expected to be finalized soon for Syracuse basketball to play at a 2025 Las Vegas event that will involve millions of dollars in NIL payouts to participating teams. @JasonBelzer @AthleteNIL @OrangeUnitedNIL ⬇️ https://t.co/G75TXSgPHX
— InsideTheLoudHouse (@LoudHouseFS) May 8, 2024
Despite concerns raised in the Sportico report, a source close to Orange United and Syracuse basketball assured that there are “zero concerns” about the event and that everything is proceeding as planned.
The 2024 Players Era Festival includes teams like Alabama, Houston, Creighton, San Diego State, Texas A&M, Rutgers, Notre Dame, and Oregon. In 2025, the event aims to expand to at least 18 teams, with Syracuse, Gonzaga, Michigan, St. John’s, and Saint Joseph’s already committed.
The NCAA memo, as reported by Libit, reiterated that its bylaws prohibit athletes from receiving NIL payments in exchange for participating in a multi-team event (MTE), even if the payments are funneled through a collective. The Players Era Festival is produced by EverWonder Studio and Seth Berger, co-founder of AND1 and head coach at Westtown School.
Players at the event will be required to make public appearances and participate in endorsement, marketing, and sponsorship activities. Besides the $1 million payout, additional large payouts may be awarded to the tournament winners.
At least $8 million in #NIL is being promised to players, so of course the NCAA steps in to try to block it. Why does the NCAA suck so much? https://t.co/WUbSXSXFmR
— Darren Heitner (@DarrenHeitner) August 21, 2024
Despite the NCAA’s concerns, Syracuse remains committed to participating in the 2025 Players Era Festival, which presents a significant financial and exposure opportunity for the program. While some express frustration with the NCAA’s stance, the event is moving forward as planned for Syracuse.
Leave a Reply