This is the first sports simulation esports event from Letsplay.live (LPL) who also promoted last year's League of Legends and Call of Duty events that were televised on SKY.
Duane Mutu, Director at LPL, expects this to be a hugely popular tournament.
"Being a basketball fan, and player, I am excited about this event and I can't wait to see how many people get on board," Mutu says.
"This is a great development for LPL and esports in New Zealand and the sport is only continuing to grow."
This announcement comes on the back of the NBA, in conjunction with Take-Two Interactive, creating an esports league focusing on the NBA 2K franchise.
This is the first esports league to be operated by a North American professional sports league and will be structured similarly to the NBA; teams will be operated by NBA franchises and will feature professional esports players.
The New Zealand tournament comes at a time where esports is booming.
"Basketball is a very competitive game and NBA 2K is no different, so we're pleased to bring a franchise-first gaming tournament to NZ with the Letsplay.live team," Alfie Brody, VP of Marketing for NBA 2K, says.
Players can register at www.letsplay.live from May 27 to compete for the $10,000 prize pool and the right to claim their title as the LPL3 NBA 2K17 Ulitmate Champion.