Among those scheduled to participate in the Aug. 22 fundraiser are Knicks star Carmelo Anthony and Knicks legend Patrick Ewing.
According to David Jackson from USA Today, the Obama campaign sent an email asking potential donors to imagine playing basketball with Anthony, Ewing and others.
"Now stop dreaming and make it happen," the email says, according to Jackson. "You and a guest of your choice could join President Obama and some of the greatest basketball stars for a special night at the Obama Classic."
Michael Jordan is scheduled to attend, but is not expected to play.
Other scheduled players include Brooklyn's Joe Johnson, New Jersey product Kyrie Irving, former Knicks rival Alonzo Mourning, ex-Net Vince Carter and ex-Knicks Jamal Crawford and Penny Hardaway.
The campaign email offers donors a chance to win tickets to the event.
According to Jackson's report, the email states: "Pitch in $3 or whatever you can, and you'll be automatically entered for a chance to win.
"Hit the court with Patrick Ewing and Melo? Trade stories with the President? This is the kind of stuff your kids will tell their kids, and no one will believe it until you show them a photo.
"Don't worry if suiting up with hoops stars isn't your thing.
"I know you've got a kid or a friend who would love nothing more than to play with their heroes while you cheer them on from a courtside seat.
"If you've been waiting for the right moment to chip in and support the President, it's time to get off the bench."