By Libby Sander

As the NCAA men's basketball tournament tips off this week, there's nearly as much buzz around what's happening off the court as the association considers renegotiating its longtime television partnership and expanding the field of teams.

The moves could be felt far beyond the 65 programs vying for the championship. If the tournament format expands, the association might be able to win more money for its television rights. And more teams from outside the traditional power conferences might have a shot at the Big Dance and the national exposure it brings.

In exchange for the broadcast rights to the tournament—one of college sports' marquee events and the NCAA's primary moneymaker—CBS provides an average of more than $500-million or so annually to the association. That makes the contract one of the richest deals in sports. More than 95 percent of that money goes to the NCAA's 1,055 active member institutions, with allocations ranging from a few thousand dollars in Division III to several million dollars in larger programs.

The agreement, which runs through 2013, includes an unusual provision allowing the NCAA to opt out with three years remaining. That puts the governing body of college sports in a powerful position. It can shop around its most valuable asset, the tournament, and strike a more lucrative deal—or wait until the contract expires, in three years.

The association has been tight-lipped about its intentions. But its decision is sure to have broad impact. Ninety percent of the NCAA's revenue comes from television- and marketing-rights fees, with more than two-thirds going to the 335 programs in Division I. Divisions II and III, which bring in little, if any, revenue from their athletics programs, also benefit: This year, an estimated $31-million, or 4 percent of the NCAA's total revenues, will go to the 288 programs in Division II, while $23-million, or 3 percent, will go to the 432 programs in Division III.

That might not sound like much, but it can make a big difference, says Jan Hathorn, athletic director at Washington and Lee University, a Division III member in Virginia. Championships, professional development, marketing—all are paid for in part with NCAA TV money.

"Any administrator worth their salt has seen a change in either the quality of their teams' experience in a championship, or they've seen new programs and new ways to tap into resources" that weren't fully covered before, she says.

One item likely to be on the negotiating table is an expansion of the tournament field to 96 teams. The 96-team format could combine the current field with the 32 berths in the National Invitation Tournament, which the NCAA acquired in 2005 and whose rights agreement with ESPN is set to expire this year.

By expanding the number of games, the NCAA might be able to command more in rights fees, industry experts say. And with greater inventory—in this case, more games—there would be ample opportunity for a cable company to enter the picture, share in the broadcasts, and increase the overall value of the tournament.

Not everyone agrees that expanding the tournament format to include nearly a third of all Division I teams is a good thing. James E. Delany, commissioner of the Big Ten Conference and a longtime power broker in big-time college sports, believes it would dilute the regular season. And rather than helping midmajor programs gain more invites, some say, broadening the format might merely benefit weaker teams from the big conferences. The reaction among fans has also been mixed: Many have described the expansion as a money grab by the NCAA that would spoil one of the most popular events in sports—and potentially lessen the amount of cash it brings in down the road if the tournament loses some of its appeal.

Even the coaching ranks are divided. Some coaches, many of whom pocket bonuses if they make it into the tournament, have expressed support for the expansion. Others say the change would lessen the cachet of a prestigious championship event and place basketball in a postseason situation similar to that of football, whose 34 bowl games have included teams that win fewer than half their games.

The NCAA has until July 31 to decide what to do. For now, televisions will still be set to CBS when the opening games tip off on March 16. What happens off the court, at least for the next three weeks, will be only the sideshow.