T-Mobile Arena in Las Vegas Might Hold Annual College Basketball Playoffs Each Year
Fox Sports is planning to arrange a yearly post-season college basketball tournament at the T-Mobile Arena in Las Vegas. It's intended to rival the well-known National Invitation Tournament (NIT) and compete with the more famous NCAA tournament.
Imagining how it would look, the male-exclusive tournament would feature teams from prominent basketball leagues, including the Big East, Big 12, and Big Ten, claims Front Office Sports. Teams from these groups are currently in discussions with Fox Sports.
Fox Sports targeted these leagues for the tournament as they're under contract with the network for other events.
The tournament is planned to happen every year in March, starting in 2024 or 2025. It will involve sixteen teams and run simultaneously between the NCAA Tournament's Elite Eight and Final Four games.
Only teams that didn't make it to the 64-team NCAA Tournament or rejected the 32-team NIT will be included.
Sports Network Showdown
With ESPN airing the NIT, the proposed Fox Sports tournament would intensify competition between the two networks.
Front Office Sports also suggests that if the Fox tournament happens, the NIT might have to invite more teams from smaller conferences as power conference teams may not be available. Moreover, since ESPN shows games involving teams from the ACC and SEC, it's improbable that teams from these conferences will participate in any post-season Las Vegas tournament aired by Fox.
The news about the new tournament surfaces as most PAC-12 teams have switched leagues.
Tearing Apart NIT
The NIT has existed since 1938, and before the '60s, it was considered more prestigious than the NCAA college basketball tournament. The NIT was invitation-only. However, it's received less attention lately.
If the new tournament takes place in Las Vegas, the NIT might face destruction.
"This new tournament would completely destroy the NIT tournament," commented Dan Dickau, a former NBA player who later worked with ESPN, in a Gonzaga Nation podcast. "It's going to create an even greater divide between the haves and have-nots in college athletics."
To attract players and teams, the proposed tournament would emphasize lucrative name/image/likeness (NIL) offers. CBS Sports revealed this.
Betting and Audience
The NCAA Tournament's March Madness often leads to substantial TV viewership and extensive sports wagering. In 2023, billions of U.S. dollars were estimated to be bet on March Madness. There were 68 million American gamblers during the tournament in 2023, up from 45 million in 2022, as per the American Gaming Association.
But in 2023, the men's NCAA basketball championship game received a record-low viewership. Only 14.693 million viewers watched UConn defeat San Diego State, according to the Sports Business Journal.
Fox Sports is additionally trying to make profits from sports betting. In August, after FOX Bet shut down, Fox Corp. CEO Lachlan Murdoch expressed optimism about the company's future sports wagering opportunities. The media giant has also had recent talks with unidentified gaming operators.
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Conclusion
Fox Sports is planning to set up an annual men's-only college basketball tournament in Las Vegas' T-Mobile Arena, aiming to compete with the NCAA tournament and NIT. To achieve this, they're considering teams from prominent leagues like the Big East, Big 12, and Big Ten. The proposed tournament would have significant NIL deals to entice players and teams. It's slated to happen in March every year, while the NCAA Tournament's Elite Eight and Final Four games are taking place. This proposed tournament could upend NIT and cause increased rivalry between Fox Sports and ESPN.
