National Invitation Tournament (NIT)

An annual postseason tournament for NCAA Division I men's basketball teams that do not qualify for the NCAA championship tournament. Founded in 1938, a year before the NCAA tournament, it is closely identified with New York City; all games were originally held at the third Madison Square Garden, and the semifinals and final were held at today's Madison Square Garden through 2022. In its early years, it was considered more prestigious than the NCAA tournament, but this changed starting in the 1950s. The tournament has been directly operated by the NCAA since 2006.