Any sports fan is aware of what goes down in March. That's right…madness. March Madness brings excitement, love, competition, skill, and more to the table, especially in the NIL era, where athletes can now capitalize on their brands when their skills are on full display.
March Madness takes place mostly in the month of March and first week of April when the NCAA holds the men's and women's Division I basketball tournaments. The women's tournament was historic, as this season was the first where women were allowed access to the iconic March Madness trademark and a field expanded from 64 teams to 68. In addition to women now being included in March Madness marketing, this is also the first ever basketball tournament in which athletes will be able to make money from their name, image, and likeness–and they're cashing in big.
Related: Why Women Are Now Included In March Madness
Female basketball players, especially, have done well in the NIL market; they ranked second in total NIL earnings among all NCAA sports with 17.8% according to Opendorse data. In comparison, only football players out-earned female basketball players, and men's basketball players ranked third with 15% of earnings. This might seem odd but it isn't–women are more likely to be present and engaging on social media, get themselves out there, and align their NILs with brands that are important to them.
Related: How Universities Are Equipping Athletes With NIL Tools
This dynamic definitely shows in the data. According to Opendorse, out of the top 5 NIL earners in March Madness, 4 were women. The highest social media earning potential per post are as follows:
- Paige Bueckers, UConn -$62.9K
- Hailey Van Lith, Louisville – $44.2K
- Paolo Banchero, Duke – $9K
- Zia Cooke, South Carolina – $7.9K
- Deja Kelly, UNC – $7.1K
Related: NIL Opportunity Or Inducement?
The NCAA has been forced to become more inclusive after being exposed for allowing inequality between men's and women's competitions and the benefits for female athletes are clear. Although inequities still exist, these women are taking matters into their own hands and making a name for themselves in the NIL space. The big event may be over, but female athletes can still take advantage of the new NIL marketplace that is now open to them and enjoy the profits for years to come.
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* Originally published on April 8, 2022, by Lilia Farach
