Tennessee will be one of several college basketball teams to participate in an innovative basketball tournament with NIL incentives over the next three years.

The Vols will participate in The Players Era Festival—a week-long event that will include financial eduction programs and NIL opportunities for players during Thanksgiving week at the MGM Grand in Las Vegas, a source told VolReport.

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CBS Sports’ Jon Rothstein was the first to report Tuesday.

Tennessee will join a growing field that currently includes 17 teams in Alabama, Auburn, Baylor, Creighton, Gonzaga, Houston, Iowa State, Kansas, Michigan, Notre Dame, Oregon, Rutgers, San Diego State, St. Josephs, Syracuse, St. John’s and Texas A&M.

More teams are expected to be added.

According to The Players Era Festival website, the event provided $9 million in NIL to players that participated in both engagement activities and competition in 2024.

The participants will make more than $50 million combined over three years.

"For these NIL payments, players will perform services and activities fully compliant with current NCAA regulations,” the site says.

More detailed information about the event is expected to be announced by Tennessee later this week.

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