NCAA purchases NIT for $56.5 million to end legal fight

NEW YORK (AP) The NCAA owns college basketball's postseason. Really.

The organization that made March mad with the 65-team national championship tournament, purchased the rights to the preseason and postseason National Invitation Tournaments as part of a settlement that ends a four-year legal fight between the two parties.

Source: CBS SportsLine

That's five New York City colleges that get 56.5M each.

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