High Point University pulled off a major upset yesterday, knocking off No. 5 Wisconsin 83-82 for the school's first NCAA tournament win.

Why it matters: March Madness is changing now that colleges can pay players. High Point hasn't publicly detailed its NIL strategy, but it is notoriously wealthy and unveiled a flashy new basketball arena five years ago.

Between the lines: Mid-majors with big bucks can now attract players who will allow them to compete with the Power Five in new ways.

• That may be especially true for schools like High Point that don't field football teams, which have far larger rosters.

State of play: Last year was HPU's tournament debut, but they lost in the first round.

• In the offseason, they recruited eight players from the transfer portal. Pickups from Arizona and Southeast Missouri State now lead the team in points, rebounds, assists and steals.

Zoom in: Also helping with recruiting is High Point's snazzy arena, the Qubein Center, which opened on campus in 2021 with an estimated $170 million price tag.

• It seats 5,000, but contains what the school says is the state's second-largest scoreboard. (Charlotte Motor Speedway's is the largest. It seats 95,000.)

More on the Panthers

North Carolina's poor free-throw shooting got them in the end, as the No. 6 Tar Heels lost to No. 11 VCU Thursday night, 82-78.

Why it matters: The overtime loss in Greenville, South Carolina, came after UNC built a 19-point lead. It's sure to increase the pressure on Hubert Davis' tenure as head coach.

State of play: Also playing in Greenville, No. 1 Duke was in trouble early and was down 11 at halftime to No. 16 Siena.

• Duke came back to win 71-65, but the national title favorites were on the ropes for much of the game.

📺 N.C. Attorney General Jeff Jackson is joining a lawsuit to block the proposed merger of Tegna and Nexstar, two television companies that own stations in the Charlotte area, Greensboro area and northeastern corner of the state. (WRAL)

🎮 Video game maker Ubisoft is laying off more than 100 employees in Cary and shutting down its Red Storm division, which created "Tom Clancy's Rainbow Six." (Triangle Business Journal 🔒)

🏫 Some Wake County teachers walked out yesterday morning to protest a potential $18 million cut to special education in Wake County Public Schools. (ABC11)

🟰 The machine recount didn't change the vote tally in Phil Berger and Sam Page's state Senate race. Berger still trails by 23, though challenges are ongoing. (News & Observer)

Research Triangle Park-based Vulcan Elements, which aims to manufacture rare-earth magnets in Johnston County, is raising $550 million at a $2 billion valuation, two sources tell Axios Pro.

Why it matters: The startup, which last raised $65 million, has gotten a boost from the Trump administration to onshore production of the critical material.

How it works: Rare-earth magnets provide a strong magnetic force in a light package.

• They're vital in missiles, radars and aircraft, plus a wide range of commercial sectors from electric vehicles and wind turbines to laptops, smartphones and medical imaging devices.

Catch up quick: Vulcan Elements last fall announced a $1.4 billion financing package with the federal government that includes a $620 million Defense Department loan to the company and calls for $550 million in private capital.

Go deeper into Vulcan's plans for North Carolina

Ramadan ends tonight at sundown, bringing a close to Raleigh restaurant Peregrine's unforgettable nightly Iftar feasts.

Why it matters: Chef and co-owner Saif Rahman drew from his Bangladeshi heritage in crafting the multi-course menu. His creativity is on full display — the feast also incorporates Southern ingredients and recipes he picked up in New York City.

Zoom in: During the Islamic holiday of Ramadan, much of the Muslim world forgoes food and water during daylight hours.

• Breaking the fast at sunset is often done with family and friends, and tends to be a joyful, communal experience.

What they're saying: "For the last 15 years, I haven't been able to break my fast with my family because I'm always working," Rahman said in an email announcing the special menu.

• "Now in my own restaurant and kitchen, I can share the experience with my guests."

Best bites: The feast began with a honeyed date-walnut confection, field pea fritters served with a spicy smoked tomato jam, and a plate of warm pita for scooping up beef heart shawarma served over hummus.

• The main course is lamb shank that's been braised in milk, a cooking technique that produced the tenderest lamb I've ever tasted. The knife it's served with is completely unnecessary. The meat falls off the bone in richly flavorful chunks.

State of play: While the Iftar feast is no longer available, some of its components, like lamb, are permanent fixtures on the menu.

What's next: Peregrine is only a year old, but it's got buzz. The restaurant is a semifinalist for the James Beard Award for Best New Restaurant in the country.

• Finalists are picked March 31.

Keep reading about the experience

This weekend's weather is shaping up to be fantastic. Let's get outside.

🎨 It's Third Friday in Durham. Go on an art walk.

🚶 Stroll through Downtown Cary Park this evening for a night market.

🏀 Head to Durham or Chapel Hill to watch NCAA Women's Tournament games all weekend.

🏟️ Lenovo Center has a packed weekend ahead. Get tickets to WWE Smackdown tonight. Saturday, it's the R&B Lovers Tour, featuring Keith Sweat and Ginuwine. And on Sunday, Christian artist Brandon Lake tours through.

🛶 Join a clean-up in Durham to mark Creek Week.

🎤 Attend the Triangle Poetry Festival on Friday and Saturday at Boxyard RTP.

😂 Laugh along with comedians Jeff Allen, Dylan Carlino and Eric D'Alessandro at Goodnights Comedy Club.

🇱🇧 Listen to music, watch performances and eat delicious Mediterranean food at the Taste of Lebanon Festival in Raleigh on Saturday and Sunday.

🍵 Taste teas from around the world with the Raleigh Tea Festival at Maywood Hall on Sunday.

🍻 Toast to 13 years of Trophy Brewing with a day party Sunday at the Morgan Street location.