What is the name of the postseason tournament for teams that do not qualify for the NCAA tournament?

The postseason tournament for teams that do not qualify for the NCAA tournament is known as the NIT (National Invitation Tournament). The NIT provides an opportunity for teams that performed well but fell short of securing an NCAA tournament bid to still compete at a high level. This tournament has a rich history, dating back to 1938, and serves as an important platform for teams to showcase their talent and for players to gain experience in postseason play.

March Madness specifically refers to the NCAA tournament itself, which is the premier postseason event for the top college basketball teams. The College Basketball Invitational is another postseason tournament but is less prestigious and has a shorter history than the NIT. The Atlantic 10 Tournament is a conference-specific event that determines which team will gain an automatic bid to the NCAA tournament but doesn't serve the same purpose as the NIT for teams left out of the NCAA. The distinction of the NIT allows it to retain significance as a valuable postseason experience for many collegiate programs.