The Central Intercollegiate Athletic Association will keep its men’s and women’s basketball tournament in Charlotte, North Carolina, for six additional years starting in 2015 and will move its conference headquarters to the city. The decision came following the 69th annual men’s tournament and 40th annual women’s tournament, which were held February 25–March 1—the ninth consecutive year the tournaments were held in Charlotte.

As part of the deal, the city of Charlotte, Mecklenburg County and the Charlotte Regional Visitors Authority will provide various benefits to CIAA, including $1.4 million in funding annually, proceeds from which will be distributed among the 12 conference colleges and universities. In addition, the CIAA headquarters will be relocated to Charlotte, although specific timing and location have not yet been announced.

“We look forward to forging an even more enhanced, collaborative and positive partnership with the city of Charlotte,” said CIAA Commissioner Jacqie Carpenter. “It’s been a home that has truly embraced the tournament and we look forward to growing the momentum we’ve experienced in these last nine years with renewed vision and energy that will help to shape the next generation of this event.”

Last year’s tournament generated an estimated $29.86 million in direct spending and $47.17 million in economic impact, according to a study conducted by the CRVA.