WICHITA, Kan. - The Basketball Tournament (TBT) unveiled a new format and winner-take-all $2 million prize, headlined by a first-round best-of-three series between defending TBT champions AfterShocks (Wichita State) and The Enchantment (New Mexico).

TBT 2026 will feature 16 teams, with eight alumni teams and eight non-alumni teams competing on two separate sides of the bracket. TBT's first round will now be a best-of-three series before returning to the single-elimination format for future rounds. Just five wins are needed to capture TBT's $2 million prize.

AfterShocks will be led by their team captain, Markis McDuffie. Donovan Dent will serve as the team captain for The Enchantment.

"It is great to have the defending champions back to defend their crown," said TBT CEO Jon Mugar. "They have an extraordinary opportunity to win another $2 million in front of their home crowd, some of the best basketball fans in America. It is an incredible home court advantage against a very tough New Mexico team. If they make it to the championship, I don't see them losing in The Pit."

All three games of the series will be played at Koch Arena in Wichita. The first game is scheduled for Monday, July 20, at 7 pm CT, and will be televised live on FS1. Game two is scheduled for Thursday, July 23 at 8 pm CT, and will be televised live on FS2.

Game three (if necessary) will be played on Friday, July 24, at 8 pm CT and will be streamed live on FS2.

Tickets for all games in Wichita can be purchased at TBTHoops.com or the Wichita State box office, beginning today at 10 a.m. CT.

The winner of the Kansas-Kansas State series will face the winner of the Wichita State-New Mexico series in a single-game second round Monday, July 27 at 8 pm CT on FS1.

The other Alumni Bracket matchups include Kentucky-Louisville and Syracuse-Seton Hall. The Alumni Bracket Championship will be played Wednesday, July 29 at 7 pm ET on FS1.

TBT's eight non-alumni teams will compete in the Las Vegas Bracket, a single-location event to be played entirely at the M Resort Spa Casino in Las Vegas from July 22-30. Team slots in the Las Vegas Bracket are available to the public at a variable entry fee ranging from $125,000-250,000.

The winner of the Las Vegas Bracket will play the winner of the Alumni Bracket on Sunday, Aug. 2 on FOX at the Alumni Bracket champion's home court.

TBT's new format for 2026 comes after a record-setting tournament in 2025. Over 500,000 viewers tuned into FOX as the AfterShocks (Wichita State) defeated Eberlein Drive, in a raucous championship held on Wichita State's campus. TBT 2025 also set a championship game attendance record, as 9,029 fans packed Koch Arena. Despite students not being in session, it was Wichita State's biggest crowd for a basketball game in over three years.

TBT drew 85,395 fans in attendance last summer, surpassing its own record in 2024. Since 2022, TBT has grown its annual attendance by over 136%.

For more information on the Kansas-Kansas State series or TBT's new format, visit TBTHoops.com.