INDIANAPOLIS (AP) — The Dos Equis 3X3U National Championship will have a new format this year.

The third annual 3-on-3 basketball tournament will be held April 2-4 at The Pavilion in downtown Indianapolis, site of the 2021 NCAA Tournament.

Seniors from all 32 Division I conferences will team up with other aspiring professional prospects from around the country for a share of a $150,000 purse, one of the largest prizes at a FIBA 3-on-3 sanctioned event. Each conference will be paired with another based on geographic region, comparable KenPom preseason rankings and conference history at the national championship.

The teams will be separated into two pools, leading to more guaranteed games and chances to win a share of the $150,000. Pool play will be April 2-3.

Teams will earn money as the go along in the knockout round, with prizes of $10,000 to semifinal winners and $50,000 to the champions.

The Colonial Athletic Association won the 2019 tournament at Mall of America in Minneapolis in 2019. Last year's tournament was canceled due to the pandemic.