The Penn State Nittany Lions basketball team is an NCAA Division I college basketball team representing the Pennsylvania State University. They play home games at the 15,261-seat Bryce Jordan Center, moving there from Rec Hall during the 1995–96 season. Their student cheering section is known as the Legion of Blue.

The National Invitation Tournament (NIT) is an annual men's college basketball tournament operated by the National Collegiate Athletic Association (NCAA). The tournament is played at regional sites with its Final Four played at Madison Square Garden (MSG) in New York City up until 2022. Starting in 2023, the NIT Final Four began following the format of the NCAA Tournament by having its Final Four at different venues each season. First held in 1938, the NIT was once considered the most prestigious post-season showcase for college basketball before its status was superseded in the mid-1950s by the NCAA Division I men's basketball tournament.