Players Era Festival

In August 2024, the NCAA sent out a memo reiterating that players could not be directly compensated for participating in an MTE, even if the money was routed through a collective. EverWonder claimed that players would participate in sponsorship opportunities on behalf of the event that would allow for NIL compensation, with this compensation being described in agreements between EverWonder and the schools' NIL collectives, but not in the agreements between EverWonder and the schools themselves.^[6]

The following month, a financial representative for the event informed Sportico that an announcement would be made soon for the sponsor and TV partner. The publication questioned the event's prospective profitability, as other MTEs bring in between $1–3 million, far below the potential amount needed to make the event profitable.^[7]

On December 16, 2024, it was announced there will be an inaugural Players Era Women's Championship in 2025, which featured four teams and took place over three days during Thanksgiving week in Las Vegas. The women's iteration coincided with the men's tournament, which featured 16 teams. The men had a Swiss-system tournament, with the team with the best record and largest point differential crowned champion.^[8]

On November 24, 2025, the Big 12 Conference announced a five-year deal to take a 15% equity stake in the Players Era Festival, along with a minimum guarantee from annual revenues and the Big 12 receiving eight bids to the Players Era tournament upon expansion.^[9] In May 2026, it was announced ESPN held the broadcasting rights moving forward and that the men’s field would feature 24 total teams. There would be an 8-team tournament on November 16 and a separate 16-team tournament on November 24, with each championship going back to a bracketed elimination event.^[10]