I saw that as well, I was surprised to see how highly regarded the gift package from the Music City Bowl actually was. It said bowls can spend up to $550 on 125 players from a team in composing their gift package and the University can spend up to an additional $400 on 125 players.
The Music City Bowl has a tier 8 gift package, which is the highest you can get. It has recliners, flat screen TVs, watches, mountain bikes, etc. Players are given 8 points and can spend those accordingly on the tiers. The points add up to monetary values. Also, it said since the bowl games purchase the items in bulk the players are able to get them at a highly discounted rate.