With a $500K NIL endorsement opportunity, College Basketball Crown is a game-changer

The College Basketball Crown just rose to another level heading into the inaugural year of the tournament, with big news dropping on Tuesday. The 16-team tournament, which features a combined 11 teams from the Big 12, Big East and Big Ten, announced a first-of-its-kind Name, Image and Likeness prize pool that will reward the championship team with a $300,000 NIL package. The runner-up will earn a $100,000 package, while $50,000 will go to the semifinalists through a new venture labeled the Vivid Seats Ambassador Program.

In a world where NIL is the No. 1 driver of everything happening in college sports, adding brand ambassador endorsement deals for the College Basketball Crown's top-four finishing teams underscores the new event's goal to differentiate itself and become the premier postseason tournament – outside the NCAA Tournament – in college basketball. 

March Madness carries a certain weight in college basketball, but by the end of this weekend, there are only three more tournament games left with the Final Four and national title game.

That's where Executive Vice President of FOX Sports Jordan Bazant saw a concept that has turned into a reality. This is a postseason event that satisfies fans surrounding the Final Four with more basketball on TV while delivering a prize that's worth something to the players' wallets. The event can build up players' professional stock with scouts on hand and raise the profile of programs trying to take the next step.

"Any time you have a chance to compete for a championship, there definitely is a benefit for your program," Nebraska head coach Fred Hoiberg told FOX Sports. "Our guys were unanimous about going out and playing, and that is a good sign for everything you have going with