The neutral site doubleheader will be played at the American Airlines Arena in Miami on Nov. 27, 2015. The format of the event is that each host school will play three home games in addition to one neutral site contest.
ESPN is in discussions to televise the doubleheader.
It will be scheduled as two separate events in order for South Florida and Memphis -- which are both in the AAC -- to participate.
This will be the second Hall of Fame sponsored men's college basketball event. The Tip-Off tournament, which includes Notre Dame, Florida State, Providence and UMass, is set for Nov. 21-23 at the Mohegan Sun in Uncasville, Connecticut.