Is WVU's Season Over? March Madness Could Come in a Different Form This Year

In this story:
Making it to the NCAA Tournament was a long shot for West Virginia entering the Big 12 tourney in Kansas City, yet there was still hope they could sneak in if they made a deep run, taking down BYU, Houston, and potentially Kansas.
Obviously all that hope came to an end last night following their 20-point loss to BYU, dropping them to 18-14 on the season with no opportunities remaining ahead of Selection Sunday.
So, with WVU now out of the conversation for the 68-team field, is their season officially over?
It's been less than 24 hours since the game ended, so it's not a surprise that West Virginia has not indicated whether or not they are interested in continuing to play, and it's likely that we won't hear of their decision until Sunday or Monday.
There are two possibilities for WVU with the CBI canceling their tournament earlier today due to "circumstances beyond our control." Those two possibilities? The NIT and the College Basketball Crown, which you may be unfamiliar with, considering it's entering just its second year of existence.
Let's start with the Crown
The College Basketball Crown is going to be the most coveted spot for teams that miss out on the NCAA Tournament because of the NIL prize money that they have on the table.
Last year, Nebraska received $300k for winning the tournament, UCF received $100k for finishing as the runner-up, and semifinalists Villanova and Boise State each received $50k. It doesn't sound like much in the NIL space, but in this day and age, every dollar counts, particularly for one who is trying to get back on track with a new coach. This year's NIL prize money has not been announced.
The Crown gives two auto bids to the top two teams of the Big East, Big 10, and Big 12 who did not make the NCAA Tournament. Those teams can, of course, decline the invitation if they so choose.
The bracket for the Crown will be revealed on Monday, March 16th at 5:30 p.m. ET on FS1.
Now the NIT
The NIT used to be the tournament, and then it became the secondary tournament to the NCAA Tournament. Up until the last handful of years or so, the NIT was still a well-respected postseason event. It's lost its luster, which I imagine has partially to do with the NCAAT expanding to 68. The NIT is still a 32-team field, but it does not have an NIL component to it. The bracket for it will be revealed on March 15th.
What should West Virginia do?
The Crown seems like the obvious choice because there's a chance to win NIL money. The only problem is that the event doesn't begin until April 1st and runs through the 5th. The transfer portal officially opens on April 7th, so you're going to be trying to balance game prep while also gearing up for the portal and trying to figure out who is going to be leaving.
The NIT begins on March 17th and wraps up on April 5th. It's a little longer because of the size of the field, so it also pushes up against the portal window.
My expectation is that if West Virginia chooses to keep playing, it would come via an invite from the Crown.

Schuyler Callihan is the publisher of West Virginia On SI and has been a trusted source covering the Mountaineers since 2016. He is the host of Between The Eers, The Walk Thru Game Day Show, and In the Gun Podcast. The Wheeling, WV native moved to Charlotte, North Carolina in 2020 to cover the Charlotte Hornets and Carolina Panthers.
Follow Callihan_