SUMMARY
- NCAA Tournament participants get rewarded with distributing units.
- Each team can earn upto five units, each valued over $300,000.
The NCAA Tournament is one of the best runs in the sport of basketball these days. Basketball fans get to witness college athletes fight for their respective institutions and things get highly competitive. We recently witnessed two incredibly massive upsets when Iowa lost to South Carolina in the women’s division and Purdue lost to UConn in the men’s division. All four teams were great throughout the 2023-24 season and made everything exciting.
UConn in the NCAA Tournament
2023: 6-0 ATS
2024: 6-0 ATSDOMINATION.pic.twitter.com/7aEDosw2BM
— Pickswise (@Pickswise) April 9, 2024
There was never a dull moment on the floor this year as every team had some sort of winning moment leaving fans to cherish it for years to come. We witnessed Caitlin Clark dominate the floor and assume the title of the greatest college athlete ever. We also witnessed teams like Purdue and UConn rise out of the ashes to either retain the gold or put their names on the map. But most fans also want to know whether players get rewarded with monetary compensation for their outstanding work.
NCAA Tournament teams get paid for distributing units
Most of us believe that even college athletes get paid for performing in the NCAA Tournament. March Madness is one of the most sought-after events on the sports calendar as well. College basketball earns a hefty sum of revenue via viewership during March. But while athletes aren’t allowed to gain anything from it, there are separate funds that cater to a college’s financial needs.
The Most Outstanding player of the NCAA tournament cutting down the nets
We see you @Kamillascsilva 👏 pic.twitter.com/smQolHCPDs
— WNBA (@WNBA) April 7, 2024
Teams that participate in the NCAA Tournament get paid through distributing units. With each game played, a team is rewarded with one unit. And teams get to earn a maximum of five units during the NCAA Tournament. These units are distributed to the respective conferences. Funds are allocated via the Basketball Performance Fund. Each unit is said to be worth around $337,141 and they increase by as much as 3% every year.
Players are prohibited from earning money from the NCAA Tournament
Players who compete in the NCAA Tournament do not get to benefit from these units as they are solely given to cater to a college’s annual finances. Instead, players get to enjoy earning through NIL deals. Numerous college athletes have adopted this mode of income, signing deals in the higher thousands.
We’re excited to announce the newest student athletes to join our Nike family: Caitlin Clark, Bronny James, Haley Jones, DJ Wagner and Juju Watkins.
Hit that ❤️ to show them some love and welcome them to the Nike Basketball fam. pic.twitter.com/xIPZN2raOS
— Nike Basketball (@nikebasketball) October 10, 2022
Athletes like Caitlin Clark have an NIL valuation estimated in the millions. Athletes get to endorse various brands like Nike, Adidas, Gatorade, and more. These endorsements aren’t limited to sports apparel brands but can also include deals from car, sound, toys, sports agencies, and other companies.