In 2027 the NIT will shrink from 32 teams to 24
*** Historical note - the NCAA acquired the NIT in 2005 for $56.5 MILLION as part of the settlement of
a lawsuit against NCAA for prohibiting teams from playing in the NIT.
The NIT had operated independently from 1938 until 2005, and in the early years was considered the more prestigious of tournaments
due to the high profile and heavily media covered finals at Madison Square Garden.
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*** Historical note - the NCAA acquired the NIT in 2005 for $56.5 MILLION as part of the settlement of
a lawsuit against NCAA for prohibiting teams from playing in the NIT.
The NIT had operated independently from 1938 until 2005, and in the early years was considered the more prestigious of tournaments
due to the high profile and heavily media covered finals at Madison Square Garden.
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