Ohio State head coach Jake Diebler spinning a basketball before speaking with media, Oct. 9, 2024. Ohio State inked a four-year deal Monday to join the Players Era Festival. Credit: Sandra Fu | Photo Editor
Ohio State men’s basketball is cashing in on the NIL era.
The Buckeyes inked a four-year contract Monday to play in the Players Era Festival, according to a report by Matt Norlander of CBS Sports. The agreement will start in 2026 and run through 2029.
The midseason tournament will be played in Las Vegas, Nov. 24-26, and is expanding from an 18-team field in 2025 to 32 teams in 2026.
Participants in the tournament will be rewarded $1 million in NIL funds. Each team will play three games during Thanksgiving week, and the winner will receive an extra $1 million towards its programs’ NIL fund.
Yahoo senior sports writer Dan Wolken said programs looking to maximize their NIL opportunities will take full advantage of an invitation.
“I think the main thing is the amount of money involved,” he said. “The programs participating are high quality.”
The Players Era Festival is also a great recruiting tool, Wolken said.
“Attaching NIL to [the tournament] is a competitive advantage for them in terms of drawing the best teams,” he said.
Other teams set to join the Buckeyes in the tournament in 2026 are Louisville, Miami (Florida), Missouri and Virginia.
Traditional tournaments that have longstanding name recognition, such as The Battle 4 Atlantis and Maui Invitation, must now compete with events that provide more of a financial incentive to their participants, Wolken said.
Other Big Ten foes that have made March Madness runs in recent years, Michigan and Oregon, will also be in the tournament.
The venues for the events will be at the MGM Grand Garden Arena and Michelob Ultra Arena from Nov. 24 to 26. It is unclear where the games will be held next year with the expanded field.
The Lantern reached out to Ohio State men’s basketball to comment on its decision to join the tournament, and did not hear back by publication.