NCAA BUYS NIT.................

[WYOBISONMAN]

Here is the link to the story....

http://www.usatoday.com/sports/colle...purchase_x.htm


And a quote from the story:


NCAA settlement includes purchase of NIT
From staff reports
NEW YORK — The NCAA has purchased the preseason and postseason National Invitation Tournaments as part of a $56.5 million settlement of a federal antitrust lawsuit with the Metropolitan Intercollegiate Basketball Association (MIBA) — an organization comprised of five New York City schools that have owned the NIT events since the 1940s.

NCAA President Myles Brand and New York University president John Sexton announced the agreement at a press conference Wednesday at Madison Square Garden.

Terms of the agreement both transfer the ownership of the tournaments ($40.5 million) and end the litigation ($16 million). The combined amounts will be paid over a 10-year period.

The agreement ends litigation that has been ongoing between the two parties for four years.

MIBA sued the NCAA in 2001, claiming antitrust violations with regard to the Association's Division I Men's Basketball Championship.

The trial began Aug. 1 and was suspended Tuesday when lawyers told the court a settlement was imminent. The jury was sent home Tuesday and did not return Wednesday.

"This is an historic day for men's college basketball," said Brand in a statement. "The agreement provides the NCAA with an opportunity to better define the college basketball season and to build on the status of the two NIT events. We intend to grow these tournaments to showcase college basketball and the student-athletes who make the game great."

Operation of the events by the NCAA will commence this fall.

ESPN will continue to broadcast the tournaments.

Finals of the tournaments will continue to be held in the New York City area for at least the next five years.

[BisonMav]

If the NCAA owns it, I wonder what impact it has on eligibility for schools participating in the NIT.

[WYOBISONMAN]

My thoughts exactly. *This is likely not good.....

[Rodentia]

It might not be such bad news. I expect the NCAA to keep the NIT going. But it might actually be good news for NDSU. "Big names" are a huge factor in current NIT decisions. As it is now, if a Big Ten team finishes at .500, they are virtually assured of making the NIT, while a more deserving, but lesser known team, can get snubbed.