(Las Vegas) The NBA has unveiled details for the inaugural NBA Cup, which will take place during the regular season and will have approximately $18 million in prize money.

The tournament will begin in November and conclude with the presentation of the final on December 9 in Las Vegas. Tournament games will count towards the regular season standings, but not the final.

Commissioner Adam Silver had been trying to set up this project for several years, offering teams a trophy to win during the season.

“It’s a concept that’s been discussed in league offices for about 15 years,” Silver said. This is not a new concept in the sports world. For those who follow international soccer, the presentation of tournaments during the season is part of the tradition. We believe this is a perfect opportunity for an international league like the NBA. This is the perfect concept for our sport. »

Members of the winning team will each receive $500,000 and members of the runner-up team $200,000. Players from teams eliminated in the Semi-Finals will each receive $100,000 and players from teams eliminated in the Quarter-Finals, $50,000.

“I can understand the goal of the tournament,” Miami Heat guard Josh Richardson said. It gives you a chance to win something else. »

Tournament matches will begin on November 3 and will mostly be played on Tuesdays and Fridays. The four aces will be contested in Las Vegas.

“This city knows how to host big events,” Silver said.

The teams were separated into six groups of five teams. They will play a match against each other member of their group and the six winners will advance to the quarter-finals, along with the two best teams that finished second in their group.

The Toronto Raptors have been placed in Group C East, along with the Boston Celtics, Brooklyn Nets, Chicago Bulls and Orlando Magic.

NBA vice president of basketball operations Joe Dumars said he believes players will enjoy the tournament, although it may take some getting used to.