A callout in the sport of basketball meaning "I have the rebound".
It is generally called out when someone looks to like they are about to shoot, then the other person says i got reee to let him know he can shoot...
it can also be called out when a person is in mid air going for a rebound, and there might be another one of his teamates also going for the ball
Player 1 looks like he wants to shoot
Player 2 moves in position to rebound and yells "i got reee"