In the old format, four teams, usually ranked in the top 15, compete for the showcase title.
The only time the winner failed to advance to the Final Four was Colorado State in 2000, Texas in 2006 and Nebraska in 2007.
However, only twice has the showcase champion won the NCAA Championship: Long Beach State in 1998 and Southern California in 2003.
Ironically, those two schools both had undefeated records en route to the NCAA title.
The following table lists the past winners, runners-up, city the tournament is hosted in, and the Most Valuable Player.