NIT confirms there will only be 8 teams and will not pursue an additional 8 teams. This means the format would have to change from previous years. If new format holds, each of the four hosts (Minnesota, Gonzaga, Georgia and SJU) would only play 1 home game and then 3 neutral site games, instead of the original two home games.
The wrinkle is that teams might be incentivized to schedule home and homes with others in the field to get two home games now that the field is smaller, so there is sort of a wait-and-see if rest of the teams buy into the format. Richmond, for instance, is known to be looking for two games to fill schedule and could start a domino effect if they poach the other teams instead of going to the tournament.