Converse and MTV2 present a new show for fans of hip-hop and basketball—Band of Ballers. It’s a celebrity 3-on-3 basketball tournament featuring the biggest names in hip-hop and music.

According to Converse, two-time defending champ, Jim Jones and his team, will be making a stand to take three in a row, but the competition will be fierce. YMCMB (Young Money Cash Money Billionaires), Matt & Kim, Wiz Khalifa, Chiddy Bang and Jim Jones will assemble all-star teams to challenge for the 2011 title and take chance to win the ‘Golden Speaker Trophy’. The trophy has fetched out many music super stars in the past. This year is hoped to be no exception.

MTV VJ Sway will host the event, Bobbito Garcia will provide play by play commentary, and DJ D-Nice will turn the playground into a disco with his high-energy mixes.

The tournament, hosted by various hip-hop and music personalities throughout the years, kicked off in 2009 with the Converse Weapon EVO sneaker drop featuring Hot 97’s Peter Rosenburgh and Cipher Sounds as hosts and then went to Atlanta in 2010 when the company introduced the new Star EVO basketball shoe.

In July, the Converse Band of Ballers Event took place at LaSalle High School afternoon, says Bounce mag.

“Hip-Hop was built on the competitive spirit of basketball,” Jim Jones, who headlined the event said, “the aggressive nature of the game is what comes out in rap and…to be honest, I don’t see any team here that is ready for what we’re bringing.”

The show launches on Sunday, August 21 at 1:30 p.m., with a repeat at 10p.m.

Those who turn on their TVs on the mentioned day will catch a world premier of ‘I’m a Goner,’ the new song from Matt and Kim featuring Soulja Boy and Andrew W.K. The song is available for download now here. It was recorded at the Converse Rubber Track Studio that was opened by the company in Brooklyn in July.