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Report: Michigan in talks to join Diamond Cup

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Michigan is one of eight teams involved in conversations to join a newly formed college basketball event, as first reported by CBS Sports.

The newly formed Diamond Cup would feature eight of the highest-profile teams in college basketball — Arizona, Connecticut, Gonzaga, Kansas, Kentucky, Indiana, Michigan and North Carolina — with unprecedented payouts and NIL funds. It is backed by William Morris Endeavor (WME) and IMG among others.

The details and format of the Diamond Cup have shifted from the original premise in the summer of 2025. The initial pitch was a four-game series for every team (16 games per season overall) on a three-year contract starting in 2027-28. That format includes three regular-season matchups and, to start, one October exhibition game that would nonetheless count toward the Diamond Cup’s pool-play results to determine a champion. The initial eight schools were lobbied in 2025 on the premise that they could make approximately $17 million over the course of the deal, sources said, provided the optimal media rights package could be sold.

That number has since changed, as has the format for Year 1. The 2027-28 season will likely be a two-game agreement, with open discussions on potentially moving to a four-game format (one preseason, three regular season) for 2028-29, sources said. Under a two-game arrangement in 2027, schools will purportedly receive $2.25 million apiece, sources said. The format for Years 2 and 3 are supposed to bump to $3.75 million per school.

The event is hoping to start in 2027-28, but contracts have yet to be signed. It is expected that games will be played across multiple neutral sites. Norlander reports at CBS that a former has yet to be decided, and could even include preseason games as part of the competition format.

The event offers player marketing opportunities and also provides equity to schools that join the deal, per CBS.

Michigan is in a three-year contract with the Players Era Festival that ends in 2027-28, with an exit option in the third and final year (if another event pays more). Norlander writes that the Players Era could match any payment, or Michigan could play in both events, depending on scheduling:

Michigan has a three-year contract with that event. Year 3 would be in 2027-28 — the first year of the Diamond Cup. The Wolverines have an opt-out clause in their contract, should another event offer to pay more than Players Era, but at the same time, Players Era also has the chance to match the payout, sources said.

If 2027-28’s first iteration of the Diamond Cup is only two games, the issue could be avoided altogether if the Diamond Cup is staged to start the season. But if those two games are around Thanksgiving, which is the plan as of now, then something will have to give, as the Players Era event (which is now two separate tournaments and 24 teams total) is staged in and around Thanksgiving as well.

Norlander writes that the hope is that contracts will be signed in “the coming weeks” with an official announcement planned for July.

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  1. umhoops

    College basketball’s next huge regular-season event is in the works and, if it materializes as planned, will give the sport another massive must-see attraction.

    The proposal — currently in the latter planning stages — is an eight-team pool-play event called the “Diamond Cup” that would debut for the 2027-28 men’s basketball season, sources told CBS Sports. If it comes together as designed, the Diamond Cup will be blue blood-laden and, in addition to the Players Era Tournament, bolster the mainstream appeal of college basketball’s opening month in a way that’s never been done before.

    The eight schools involved in deep discussions — but, as many sources stressed, are not yet signed — represent the lion’s share of the most storied and accomplished programs in college hoops history: Arizona, Connecticut, Gonzaga, Kansas, Kentucky, Indiana, Michigan and North Carolina. Seven of those schools have been in talks with Diamond Cup stakeholders since last summer; Duke bowed out earlier this spring due to its three-game contract with Amazon Prime Video, which starts later this year. (More on that below.)

    The Diamond Cup was concocted by former St. John’s athletic director Mike Cragg, who also previously worked at Duke for more than three decades; former Nike executive Eric Lautenbach, who has fostered significant relationships at the college level for decades; and former Draft Kings and television executive Ezra Kucharz. The trio has connected with William Morris Endeavor (WME) and IMG to help market and stage the event, according to a pitch deck obtained by CBS Sports.

    Reply

  2. kturnup

    The new Champions Classic!

    Reply

  3. umhoops

    Some big dollar numbers:

    The details and format of the Diamond Cup have shifted from the original premise in the summer of 2025. The initial pitch was a four-game series for every team (16 games per season overall) on a three-year contract starting in 2027-28. That format includes three regular-season matchups and, to start, one October exhibition game that would nonetheless count toward the Diamond Cup’s pool-play results to determine a champion. The initial eight schools were lobbied in 2025 on the premise that they could make approximately $17 million over the course of the deal, sources said, provided the optimal media rights package could be sold.

    That number has since changed, as has the format for Year 1. The 2027-28 season will likely be a two-game agreement, with open discussions on potentially moving to a four-game format (one preseason, three regular season) for 2028-29, sources said. Under a two-game arrangement in 2027, schools will purportedly receive $2.25 million apiece, sources said. The format for Years 2 and 3 are supposed to bump to $3.75 million per school.

    Reply

  4. umhoops

    Preseason idea is :fire:

    Reply

  5. steve

    Everyone needs an easy win on their schedule!

    Reply

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