The tournament is played at the State Farm Field House at ESPN Wide World of Sports Complex in the Walt Disney World Resort near Orlando, Florida.

In the current format, the tournament consists of eight teams from separate conferences.

Teams who lose in the first round move to the consolation bracket and can finish no better than 5th, while the worst a team can finish that wins in the first round is 4th.

The final ranking of the teams is determined by separate games for 1st, 3rd, 5th, and 7th places.

The Metro Atlantic Athletic Conference serves as the host for the tournament.