Report: NCAA tourney expanding to 76 teams

The NCAA has initiated the final steps to expand the men's and women's March Madness fields to 76 teams, sources told ESPN's Pete Thamel.

The change is expected to be formalized in the coming weeks, putting it on track to begin next season, adds Thamel.

The men's tournament will include eight additional at-large bids, and the First Four will now consist of 24 teams playing at two venues, according to Thamel.

The expansion means that 52 teams will automatically earn their spot in the main tournament bracket, while the remaining 24 schools will take part in a revamped opening round that features 12 games across Tuesday and Wednesday, per CBS Sports' Matt Norlander.

The opening round will be a combination of at-large and automatic bids that determines half of the 15-seeds and all of the 16-seeds, Norlander reports.

The current 68-team NCAA Tournament format has been in place since 2011.