Penny Hardaway Questions If 'Cinderella' CBB Schools Can Compete in Age of NIL Deals

Memphis men's basketball coach Penny Hardaway is worried one of the impacts of name, image and likeness opportunities in college sports will be less parity when it comes to the postseason.

"March Madness is not about the madness anymore because of the NIL," he said during a Tuesday appearance on The Pivot Podcast (48:10 mark). "If you have $10 to $15 million and I only have $100,000 to give my best player and then I have to trickle down, like I get a million? Some of these small schools, these Cinderella schools, don't have a million to give in NIL. It's not going to happen."

The comments come after the men's Final Four consisted of four No. 1 seeds (Florida, Houston, Duke and Auburn) and the women's Final Four consisted of three No. 1 seeds (South Carolina, UCLA and Texas) and a No. 2 seed (UConn).

Florida and UConn cut down the nets as deserving national champions, but there was a notable lack of bracket-altering upsets that have come to define the Big Dance.

There have only been a few NCAA tournaments during the NIL era, so it is likely too early to draw significant conclusions. Last year in the men's tournament, 11th-seeded North Carolina State reached the Final Four, while UConn was the top-seeded team in the 2023 men's Final Four as a No. 4 seed.

The Huskies were joined by two No. 5 seeds in San Diego State and Miami, as well as a No. 9 seed in Florida Atlantic.

Still, it isn't difficult to see Hardaway's logic that the schools with bigger budgets will be able to land all the best players in an era when money is so important on the recruiting trail. What's more, the ability to freely transfer during multiple windows means those same powerhouse schools could easily convince an overlooked player at one of those "Cinderella" schools to join their program after a successful season.

Hardaway was able to navigate the challenges that come with the current era of college basketball and lead the Tigers to a 29-6 record and No. 5 seed in the NCAA tournament this past season.

While Memphis won the American Athletic Conference regular-season and tournament titles, it lost in the first round of the Big Dance to 12th-seeded Colorado State.

Now he is just starting another offseason where NIL is sure to be a focal point on the recruiting trail and transfer market.