Sixty teams have been unveiled for the $2 million, 64-team, winner-take-all The Basketball Tournament (TBT), with the final four coming from the TBT Jamboree, a play-in event in Philadelphia in which 16 teams buy their way into a bracket for $5,000.

TBT is in its fourth season. This year the semifinals and championship will be held in Baltimore on Aug. 1 and 3. The title game will be televised on ESPN at 7 p.m. ET.

Thus far, more than 40 players who will be involved have played in the NBA -- including former No. 1 overall pick Greg Oden, who is on the roster for Scarlet & Gray, a team comprised of Ohio State alums.

Portland Trail Blazers star Damian Lillard -- as well fellow NBA players Wes Matthews, Darren Collison and twins Markieff and Marcus Morris -- will coach teams in the field. Lillard will coach a team of Weber State alums.

"It's just an honor and fun to see so many of my former friends and teammates coming together again years later to achieve that common goal," Lillard said. "This tournament has given people who choose to compete in it an opportunity to be on a big stage for a life-changing reward."

Overseas Elite, a team composed of former college stars playing overseas, is the two-time defending champion and will receive an automatic bid into the field. The team, which split $1 million in 2015 and $2 million last year, will return its core: Errick McCollum, the older brother of Portland guard C.J. McCollum; former St. John's standouts Paris Horne and D.J. Kennedy; DeAndre Kane, Kyle Fogg, Todd O'Brien and Johndre Jefferson.

Trail Blazers star Damian Lillard will coach Weber State alums in The Basketball Tournament. Cameron Browne/NBAE/Getty Images

TBT began in 2014 with the prize at $500,000.

"We're now heading into our fourth tournament and I continue to be surprised at our growth," founder Jon Mugar told ESPN. "Our final 15 games will be shown live on TV: half on ESPN and half on ESPN2. The first 48 will be on ESPN3. We also have a former No. 1 NBA pick in Greg Oden working out, trying to get himself into playing shape to help an Ohio State Alumni team win $2 million. The determination to win has never been higher. I thought it would take 10 years to get to this point."

This field is loaded once again with college alumni teams. Syracuse will enter a squad with former Orange players Eric Devendorf, C.J. Fair, Donte Greene, Rick Jackson, Scoop Jardine and James Southerland. Villanova's alumni team will include four players from the 2009 Final Four run: Scottie Reynolds, Corey Fisher, Antonio Pena and Reggie Redding.

Ex-Ohio State star Scoonie Penn has organized a team, Oden will be on the roster, but he told ESPN it's still uncertain whether he will play. The team will also include Aaron Craft, David Lighty, William Buford and Jon Diebler. Former Ole Miss standout Marshall Henderson will be on a team with fellow ex-Rebel players Murphy Holloway and Chris Warren.

Other entries that will have alums include Gonzaga, Pittsburgh, Texas Tech, Vanderbilt, Marquette, Iowa State, Colorado, Utah, Kansas State, VCU, South Florida, Bradley, UW-Milwaukee, Middle Tennessee State, Iona, Rider and Air Force.

The Washington Generals, looking for their first win in 46 years, will be in the field. Turner Sports' Kenny Smith is the general manager and will have former Georgia guard Sundiata Gaines and ex-St. John's guard Malik Boothe on the roster.

TBT Jamboree, the first play-in event, will be held June 17-18 in Philadelphia. There are still eight slots available, according to Mugar.

The regionals will be in Philadelphia, Charlotte, Las Vegas and at Bradley University in Peoria, Illinois. The Super 16 will take place at LIU Brooklyn from July 20-23.