The NBA in-season tournament is a new annual competition for all 30 teams that will debut in the 2023-24 season. The tournament was officially announced on July 8, 2023, on NBA Today. The tournament will have a format similar to European soccer tournaments and the WNBA Commissioners Cup. The tournament will consist of a group stage and then a knockout round, which includes the semifinals and the final being played in Las Vegas. The winner will lift the NBA Cup. The tournament will take place from November 3 to December 9, with games played on Tuesdays and Fridays. All 67 games across both stages of the In-Season Tournament will count toward the regular-season standings except the Championship. Each team will continue to play 82 regular-season games in the 2023-24 season, including those games that are part of Group Play and the Knockout Rounds. The qualifying teams will compete for a prize pool, and each player on the winning team will receive $500,000. The champion will receive a new trophy, the NBA Cup. All 30 teams will participate in the first stage of the tournament, Group Play. Eight teams will advance to the second and final stage, the single-elimination Knockout Rounds. The NBA hopes to reinvigorate the regular season with its in-season tournament.