Eight high-profile college basketball programs are in negotiations to launch the Diamond Cup, a proposed multi-team event featuring unprecedented payouts and student-athlete NIL funding opportunities.
The tournament is scheduled to begin in the 2027-28 season.
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The prospective lineup includes Michigan Wolverines, Gonzaga Bulldogs, Arizona Wildcats, UConn Huskies, Kansas Jayhawks, Kentucky Wildcats, Indiana Hoosiers, and North Carolina Tar Heels.
Financial backing comes from William Morris Endeavor (WME) and IMG, as first reported by CBS Sports.
Format and Payouts
Under the revised inaugural format, each participating school would receive $2.25 million for a two-game agreement in the 2027-28 season.
Plans for the 2028-29 and 2029-30 seasons involve expanding to a four-game format, increasing payouts to $3.75 million per school annually.
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The competition structure will feature pool-play matches across multiple neutral sites, potentially combining preseason and regular-season matchups.
Organizers aim to secure signed contracts in the coming weeks, with a planned official announcement in July.
The timing of the tournament introduces scheduling complexities for programs like Michigan and Gonzaga, which are already committed to the Players Era Festival during the Thanksgiving window.
Michigan holds a lucrative contract with the Players Era Festival through 2027-28 but possesses a high-paying exit option.
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Updated scheduling rules may allow Gonzaga to participate in both events.
