"The NCAA has purchased the preseason and postseason NIT tournaments for $40.5 million and another $16 million to end the litigation with the ...MIBA, the Metropolitan Intercollegiate Basketball Association (made up of five New York-area schools: Fordham, Manhattan, St. John's, Wagner and New York University)."
So if you're wondering what happened to the NIT, and who owns it now, this answers those questions.
If anyone knows a non-UVa player from one of the most-publicized leagues who is excited about playing in the NIT, please have them respond and explain why they want to play in this. It's a mystery to me, just like it makes no sense to me for Division 1 women's basketball teams to compete for viewers with men's teams by staging their entire season at the exact same time that the men are playing their seasons.