How NIL Has Changed the NCAA Basketball Tournament

For decades, March Madness has been all about buzzer beaters, bracket busters, and underdog stories. It’s made college basketball one of the most exciting events in sports. But over the last three years, something fundamental has shifted. The introduction of Name, Image, and Likeness (NIL) deals has changed the college basketball landscape, and nowhere is that more obvious than during the NCAA Tournament.

What is NIL?

Before we get into how it’s affected March Madness, let’s quickly break down what NIL is. In July 2021, the NCAA finally allowed college athletes to make money from their name, image, and likeness. That opened the door for sponsorship deals, endorsements, social media partnerships, autograph signings, and more. According to On3, a platform that tracks NIL deals, over $917 million has been paid out to NCAA athletes since the rule change.

The Transfer Portal and NIL Are Shaping Rosters

One of the biggest shifts we’ve seen since NIL started is the relationship between player movement and these new money-making opportunities. Athletes are using the transfer portal to not only find more playing time, but also to secure better NIL deals at new schools. According to the NCAA, more than 20 percent of Division I men’s basketball players entered the transfer portal in 2023. That’s the highest number ever.

Take Nijel Pack, for example. He transferred from Kansas State to Miami in 2022 after reportedly landing a two-year NIL deal worth $800,000 with LifeWallet. He also got a car as part of the deal. Pack went on to help lead the Hurricanes to the Final Four in 2023. Moves like his show how NIL money is directly impacting rosters and success on the court.

NIL Is Keeping College Stars Around Longer

In the past, a lot of top college players left early for the NBA. Even if they weren’t guaranteed first-round picks, the financial incentive was clear. But NIL has changed that. Now, athletes can earn solid money while staying in school and finishing their college careers.

Drew Timme at Gonzaga is a perfect example. He returned for his senior season in 2022-23 instead of going pro, largely because of his NIL opportunities. Timme reportedly made close to $500,000 that year through NIL deals. North Carolina’s Armando Bacot also stuck around for his senior season, landing partnerships with Dunkin’ Donuts, Bose, and other companies. In both cases, NIL money made staying in college worthwhile, and their teams benefitted by having proven stars leading the way during the tournament.

What About Mid-Majors and Cinderella Teams?

For mid-major schools, NIL has been both a blessing and a challenge. On one hand, their star players are often recruited away by bigger programs offering more NIL money. On the other hand, some schools have figured out ways to keep their best players through local NIL collectives and sponsorships.

Max Abmas at Oral Roberts is a good example. After leading the Golden Eagles to the Sweet 16 in 2021, he stuck around for two more years. That probably wouldn’t have happened before NIL. But eventually, he transferred to Texas for his final season, where the NIL opportunities and exposure were bigger. Schools like Florida Atlantic, which made an incredible Final Four run in 2023, managed to keep most of their roster together for another year. NIL collectives helped make that happen, giving those players a reason to stay and build on their Cinderella story.

Recruiting Has Turned Into an NIL Arms Race

When it comes to recruiting, NIL has changed the game. Schools with strong donor bases and well-funded NIL collectives have an edge in attracting the top talent. Powerhouse programs like Kentucky, Kansas, and Duke have all used NIL opportunities as part of their recruiting pitches.

DJ Wagner, a top recruit who signed with Kentucky in 2023, had several NIL deals lined up before he ever played a college game. That kind of setup wasn’t possible just a few years ago. While some worried that NIL would make the rich richer and the gap between schools wider, March Madness has stayed as unpredictable as ever. In 2023, three of the four Final Four teams, San Diego State, Florida Atlantic, and Miami, were making their first appearances. Coaching, chemistry, and experience still matter just as much as money.

What Does the Future Look Like?

By 2025, NIL collectives have become a major part of college sports. Some schools have multi-million dollar NIL funds aimed specifically at basketball. According to On3, a top-level men’s college basketball player at a high-major school can now expect to make between $150,000 and $300,000 a year in NIL earnings.

That raises questions about how long smaller programs can compete. Will they be able to keep their stars, or will the money at bigger schools always lure them away? Only time will tell. But for now, NIL has given athletes the chance to profit from their skills and still compete in the NCAA Tournament. March Madness is still the most-watched basketball event in America, with around 10 million people tuning in for each game in 2024.

Final Thoughts

NIL has completely reshaped college basketball and the NCAA Tournament. It’s keeping veteran players in school, influencing transfers, and adding a new layer to recruiting battles. But even with all this change, March Madness remains as exciting and unpredictable as ever. Now, there’s just more money on the table, for schools and for the players who make it all happen.

References

On3. (2024). NIL valuations report. On3.com. Retrieved from https://www.on3.com/nil/

NCAA. (2023). NCAA transfer portal trends: 2023 report. NCAA.org. Retrieved from https://www.ncaa.org/sports/2023/transfer-portal.aspx

ESPN. (2024). NCAA tournament viewership data 2024. ESPN Press Room. Retrieved from https://espnpressroom.com/us/

O’Neil, D. (2023, April 5). How NIL is changing the game for college basketball stars and teams. The Athletic. Retrieved from https://theathletic.com/