March Madness remains one of the most uniquely American sporting phenomena โ a tournament so unpredictable and emotionally resonant that it consistently outranks the Super Bowl in terms of office pools and casual viewer engagement. But it is undergoing profound change.
Name, Image, and Likeness deals have transformed college basketball's economics. Star players at top programmes can now earn seven figures annually from endorsements and the revenue-sharing arrangements that took effect in 2025. Critics argue talent concentration at elite programmes makes genuine upsets less likely; supporters say it makes the tournament more watchable.
Programmes now routinely lose four or five key players after the season and rebuild entirely through transfers. Critics argue this has destroyed programme identity; supporters counter it gives athletes freedom that any employee deserves.
The transfer portal has made college basketball more meritocratic and less exploitative. It has also made it harder to follow. Both things can be true.