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Dwyane Wade and Chris Paul named captains for new NBA All-Star Saturday Night

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Wade and Paul will head Eastern and Western Conference teams in new All-Star Saturday Night event in Houston.

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The NBA announced Miami Heat guard Dwyane Wade and Los Angeles Clippers guard Chris Paul will be captains of the Eastern and Western Conference, respectively, for State Farm All-Star Saturday Night.

The event takes place on Saturday, Feb. 16 at the Toyota Center in Houston and will be televised live by TNT at 8 p.m. ET. Events includes the Sears Shooting Stars, a competition featuring NBA players, WNBA players, and NBA legends; the Taco Bell Skills Challenge, in which several guards from around the league attempt to complete a series of passes, free throws, layups and agility drills; the Foot Locker Three-Point Contest and the Sprite Slam Dunk contest.

The night will feature a brand new format that will raise money for charity by earning points that accumulate for each of the four events. As part of the new format, these points will also determine the conference that earns the title of 2013 State Farm All-Star Saturday Night Champion. (Thankfully, this does not determine home court advantage in the NBA Finals.)

In addition, NBA Cares and State Farm will make a joint donation of $500,000 as part of the event, with $350,000 going to the winning conference's charities and $150,000 to the runner-up conference's charities. The Eastern Conference will be playing for Big Brothers Big Sisters and Make-A-Wish America, while the Western Conference will compete for Boys & Girls Club of America and Share Our Strength's No Kid Hungry campaign. The charities were selected by Wade and Paul, the NBA, and State Farm.

"State Farm All-Star Saturday Night is a night for the fans and the events provide some of the most memorable moments in NBA history," said Paul. "Not only are we playing for bragging rights, but we are also raising money for charity, so it is definitely going to be a great night."

"I'm honored to serve as the captain and represent the Eastern Conference in the first All-Star Saturday Night that will feature the East taking on the West," said Wade. "We are looking forward to a night of rivalries, great competition, and most of all, putting on a great show for the fans."