The CIT is not highly regarded, as every team's goal is to make the NCAA Tournament. However, it does provide an alternative postseason experience for programs that didn't make the NCAA Tournament or National Invitation Tournament (NIT).
The CIT is a single-elimination tournament that has been running since 2009. It not a fixed-bracket tournament like the NCAA Tournament. Instead, teams are re-seeded after each round, ensuring that the highest- and lowest-seeded remaining teams will be matched up.
The CIT runs from late March through early April and is usually overshadowed by the NCAA Tournament. It is designed to garner attention from the fanbases of participating teams and provide an alternative to the craziness of the NCAA Tournament.
Teams get invited to the CIT by the CIT Selection Committee, which is made up of Division I athletic directors and conference representatives. The teams that are chosen must have a positive season win percentage, while other important qualities include strength of schedule, strength of conference, and recent performance.