Proceeds from the event will go to the Grand Kids Foundation, which will continue its efforts to enhance the lives of students in Michigan's inner cities and emphasize the importance of education.
Granderson was in the planning stages of the event when he was traded to the Yankees Dec. 9 for Austin Jackson and Phil Coke. He decided to continue on with the fundraiser.
"This will also be an emotional event on a personal level, as it will be somewhat of a goodbye from me to the fans and the city that have supported me so strongly throughout my career so far," Granderson said in a statement. "I hope that those fans can pack the gym and also raise a lot of money for inner-city education in Michigan."
Granderson will serve as a referee for the game. Detroit Pistons star Ben Gordon and University of Michigan coaching legend Lloyd Carr will serve as coaches.
Among the former local collegiate stars scheduled to attend are former Michigan Fab Five members Jalen Rose and Jimmy King, both of whom currently work as basketball analysts on television. Heisman Trophy winner Desmond Howard will also be taking part, as will former Michigan State football standout and NFL running back T.J. Duckett and former NBA player Jeff Grayer.
Shootout players on the celebrity side include reigning World Series of Poker champion Joe Cada, a Detroit area native, as well as FSN Detroit anchor/reporter Trevor Thompson, Dateline NBC correspondent Chris Hansen, ESPN personalities Jemele Hill and Dana Jacobson, Biggest Loser season 7 winner Helen Phillips and runner-up Mike Morelli, local traffic reporter Erin Nicole and Fathead.com CEO Pat McInnis.
Tickets cost $30 for adults and $25 for students with a valid student ID, and are available online at grandkidsfoundation.org and curtisgranderson.com. Admission is free for kids ages two and younger.
Jason Beck is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.