“Back in the 1950s and 1960s, the National Invitation Tournament...was more prominent than the NCAA Tournament, which featured conference champions and prohibited multiple teams from the same conference. The NIT was the place to be.

“Why? New York City offered teams major media exposure, and a chance to play in front of NBA scouts

"’That was basketball in those days,’ said Pete Witbeck, a former BYU assistant coach. ‘Back then, the NIT champ was the big champ. We could have gone to either the NCAA or NIT. We chose the NIT because it was more prestigious. Playing basketball at Madison Square Garden is like playing football at Notre Dame.’"

https://www.deseretnews.com/article/765615745/BYU-basketball-Looking-back-at-the-Cougars-two-NIT-championship-games-in-the-Big-Apple.html