This tournament is unique because it was started two years prior to the NCAA men's tournament and one year before the National Invitation Tournament, and all the teams play over a series of six days instead of several weekends. The compactness of the tournament has given it the nickname "college basketball's toughest tournament".
It began when Dr. James Naismith, Emil S. Liston, Frank Cramer, and local leaders formed the National College Basketball Tournament, which was staged at Municipal Auditorium in Kansas City, Missouri. The goal of the tournament was to establish a forum for small colleges and universities to determine a national basketball champion.[2]
The third place game featured the losing teams from the national semifinals to determine 3rd and 4th places in the tournament. This game was played until 1988.