If (or should we say when) the NCAA expands is currently perfect basketball tournament to include 96 teams, it could spell the end of the NIT, a Madison Square Garden institution since 1938. Sources tell the Post that the postseason NIT could be phased out — the NCAA has owned the NIT since 2005 — and the preseason NIT would become something called the First Four, to be played in the same venue as that season’s Final Four. The NIT could be eliminated as early as this year, following the finals in April. [NYP]