Reger Dowell #5 of the Oklahoma State Cowboys drives the...

Reger Dowell #5 of the Oklahoma State Cowboys drives the ball against Aaron Bright #2 of the Stanford Cardinal during the 2011 Dick's Sporting Goods NIT Season Tip-Off at Madison Square Garden. (Nov. 23, 2011) Credit: Getty Images

INDIANAPOLIS -- The NIT is staying at Madison Square Garden.

The NCAA, the NIT and the Madison Square Garden Co. announced a three-year agreement to keep the NIT Season Tip-Off semifinals and title game at the New York arena along with the season-ending tournament in April.

First held in 1938, the NIT is the oldest postseason college basketball tournament in the country. Pairings for this season's Tip-Off will be announced by mid-August.

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