Why some college basketball stars said ‘no thanks’ and withdrew from the 2024 NBA Draft

“Exciting” would not be the word we would use to describe the upcoming 2024 NBA Draft.

Unlike recent years, the 2024 draft lacks elite players and compelling stories to keep fans engaged (sorry, Rich Paul). This makes it easy for basketball lovers to ignore the mundane coverage of this subpar draft. However, in doing so, they miss subtle decisions that point to a seismic shift on the college basketball horizon.

On May 29, the NBA Draft withdrawal deadline has come and gone. As expected, players who heard less favorable responses about their NBA classification decided to return to college. Notably, several promising second-round picks also chose to return to their schools or enter the college basketball transfer portal rather than begin their NBA careers.

Players like Alex Karaban (UConn), Hunter Sillas (Wake Forest) and Mark Sears (Alabama) decided to stay in school. While this may seem like a small footnote in an otherwise lackluster writing process, it actually signifies a new normal in college basketball.

Historically, college prospects would cash in on their career potential as quickly as possible, aiming for the biggest paycheck, an early chance at a second contract, and of course, an extra year of career earnings. A draft like this would have been ideal for non-obvious NBA players to simply move on and make the most of their stock. However, thanks to evolution of Name, Image and Likeness (NIL) lawsa promise of a second round is no longer enough to lure college stars away from the comforts of college life.

Seattle was the epicenter of this revelation. During the 2024 NBA Draft combine, news broke that former Utah State star Great Osobor would try out for the Washington Huskies next year after negotiating a $2 million NIL payday. With a multitude of stay-or-go decisions still in play at the time, the heavy rumble of Osobor’s fully loaded Brinks truck swept through Chicago, the site of the combine.

“That’s a crazy number,” late second-round pick Jaylen Wells told Isaac Trotter of 247Sports. “I’m not going to say a specific number, but my NIL wasn’t even close to that. But coming from Division II, not having a full scholarship, paying for college and two years later, you see guys with two million playing in college? It’s crazy to think about.”

Although Wells opted to remain in the draft, the Osobor deal certainly caused other fringe NBA prospects to rethink their options.

Sears needed to hear an NBA director tell him he had a guaranteed roster spot to stay in the draft because of how much money could be made in the college ranks.

“Basically, if a team has a guaranteed spot for me,” Sears told Trotter. He explained how NIL money creates financial stability for players who aren’t necessarily seeking NBA stardom. “Some players dream of playing in the NBA. That may be their main goal. Others love college life and may not be ready to leave. It’s never a bad position to be in.”

While few players will get the unprecedented $2 million deal that Osobor was able to broker, college players can still earn more than the non-guaranteed $559,782 that the NBA is offering two-way contracts staying at school. This financial reality is creating a divide between college basketball and the NBA. NCAA conferences are no longer mere stepping stones to professional leagues; now they can keep their stars and compete for elite talent.

This is a welcome new era for college basketball, which has had to fend off competitions like the now-defunct G League Ignite, Australia’s NBL and Overtime Elite. As NCAA basketball evolves with a revenue-sharing model in addition to NIL perks, it could begin to resemble leagues like the NBL or EuroLeague, turning into an international game with broad appeal. Don’t be surprised to see blue blood schools with deep pockets, like Kentucky, playing a broader international schedule in hopes of expanding their international market (they might even interrupt conference play for an international trip just to get more attention on the game ) . Or when the next Luka Doncic spends a year at UCLA (because we all know how Mick Cronin feels about a good international prospect).

And don’t be beside yourself when seven-figure paydays become the norm in college basketball — even for players you’ve never heard of.

For the first time in the modern NBA era, it is now legally more profitable to be a college basketball star than an NBA benchwarmer.