First, the news:
The Basketball Tournament is an open-application single-elimination tournament staged annually. It usually consists of about 64 teams playing for a $2 million, winner take all prize. Literally anyone can play, as long as they are good enough to hang and famous enough to get the support needed to make it into the bracket. Current and former NBA players have competed, as well as a slew of overseas guys. Obviously, current college players forfeit eligibility if they participate.
Alumni teams have participated in the past from schools like Syracuse, Georgetown, UC, and others. Xavier alumni have also participated, with Remy Abel reaching the final last year as a member of Sideline Cancer. With the coronavirus not entirely controlled in the US, it's not clear what format TBT will take in 2021. Wear those masks so we can watch the alumni team take on the world.