Oregon basketball agrees to Players Era Festival, will receive at least $1 million

A massive new NIL-drive tournament is set to take place for the first time later this year in Las Vegas.

The Players Era Festival, an eight-team tournament, will host Division I schools from across the country and award each participating team $1 million – along with an additional million dollars to the winner.

On May 7, the tournament announced that seven of the eight teams had agreed to participate, so far. The Oregon Ducks were one of the first seven teams to enter their name in the Players Era Festival, alongside Alabama, Houston, Notre Dame, Rutgers, San Diego State, and Texas A&M.

The tournament organizers shared that the eighth team had been narrowed down to a small pool of possibilities and the final selection would be announced at a later date.

As of now, the tournament is not expected to be a one-time event. Sources told CBS Sports that the 2025 tournament could have an expansion to 16 teams such as Duke, Kansas, Gonzaga, and more.

MGM Grand is in final discussions with organizers to host the tournament at Vegas’ major venues including the T-Mobile Arena and MGM Grand Garden Arena – where the men’s and women’s Pac-12 Tournaments used to take place.

So far, Oregon is the only former Pac-12 team entered into the tournament and one of two Big Ten teams to throw its hat in the ring.

Head coach Dana Altman has had an incredible offseason following an unexpected Pac-12 Tournament title and run to the Round of 32 in the NCAA Tournament.

With three impressive transfer portal commitments TJ Bamba, Brandon Angel, and Ra’Heim Moss, the Ducks are looking for an even better regular season and a more impressive postseason run during the 2024-25 season.

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