Phil Sandlin/Associated Press

Team Colorado and defending champions Overseas Elite punched their tickets into the finals of The Basketball Tournament Saturday, setting up a highly anticipated clash with $2 million on the line.

Always A Brave and City of Gods fell short in their attempts to get past the semifinals, which means they will leave Philadelphia empty-handed and will not have an opportunity to test their skills in New York.

With the semis officially in the books, here is a rundown of how Saturday's contests played out, as well as a look ahead at the schedule for the ultimate game of the tournament.

Saturday Results

The Basketball Tournament Semifinal Scores Round Winning Team Losing Team Score Semifinals (5) Team Colorado (9) Always A Brave 78-70 Semifinals (2) Overseas Elite (1) City of Gods 103-92 TheTournament.com

Championship Schedule

The Basketball Tournament Final Schedule Date Time (ET) Matchup Watch Tuesday, Aug. 2 7 p.m. ET (5) Team Colorado vs. (2) Overseas Elite ESPN TheTournament.com

Saturday Recap

While much of the focus entering Saturday was on the rematch of a 2015 semifinal between City of Gods and Overseas Elite, Team Colorado and Always A Brave put on a competitive, entertaining contest to determine the first finalist of the tournament.

Team Colorado is comprised entirely of former Colorado Buffaloes players, while Always A Brave boasts only former Bradley Braves stars.

In the end, Colorado's combination of Marcus Hall and Marcus Relphorde proved too much for Always A Brave to overcome in a 78-70 defeat.

Hall led all scorers with 25 points to go along with seven rebounds and four assists, while Relphorde chipped in 20 points of his own.

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Always A Brave was paced by 16 points from Jeremy Crouch, but it wasn't nearly enough to overcome Hall's heroics.

Hall has arguably been the MVP of the tournament, and that level of play continued Saturday with shots such as the deadly accurate trifecta captured in this video, courtesy of TBT on Twitter:

As pointed out by Ed Isaacson of NBC Sports, Hall was easily the biggest difference in a game that was tight until Team Colorado pulled away in the latter stages:

The former Buffaloes standouts are now one win away from splitting $2 million, but Hall made it clear after the game that the tournament is about a lot more than that for Team Colorado, per the official Twitter account of the school's athletic department:

If Team Colorado is going to pull off the upset and win it all, then it will need Hall to turn in a similar performance in Tuesday's final.

Even if he does, however, it doesn't guarantee a win due to how strong Overseas Elite looked in its semifinal win over City of Gods.

Overseas Elite beat City of Gods to reach the final last year before eventually going on to win the then-$1 million prize, and it repeated that feat Saturday in an impressive 103-92 triumph.

While Overseas Elite trailed by double digits in the first half, the team comprised of players thriving outside the United States staged a furious comeback spearheaded by former University of Arizona star Kyle Fogg.

The 26-year-old led the German league in scoring last season, and he led all scorers with 42 points en route to Overseas Elite's second consecutive The Basketball Tournament final appearance.

Many took notice of Fogg's remarkable showing, including former Arizona teammate and current New Orleans Pelicans forward Solomon Hill:

While Fogg provided the production, former Texas guard Myck Kabongo impressed with his flashiness and explosiveness, per ESPN's Jeff Goodman:

The City of Gods roster was stacked with former NBA players and high draft selections such as Pops Mensah-Bonsu, James White, Xavier Silas and Michael Sweetney, but for the second consecutive year it fell short of a chance to play for the money.

Overseas Elite has been unbeatable during its two years in The Basketball Tournament, and it will play the role of Goliath to Team Colorado's David on Tuesday.

With Hall and Fogg providing a salivating individual matchup, the 2016 TBT final has all the makings of a classic encounter with $2 million hanging in the balance.

Follow @MikeChiari on Twitter.