In the spring of 1962, Cleveland Pipers owner George Steinbrenner of the new American Basketball League signed Jerry Lucas to a player-management contract worth $40,000.
The season began with a franchise shift, as the Philadelphia Warriors pulled up stakes and headed to San Francisco, joining the Los Angeles Lakers on the West Coast.
Globetrotters' owner Abe Saperstein started the league after he was thwarted in a bid for an NBA franchise in Los Angeles.
The ABL made an immediate splash with two major innovations that the NBA would copy eventually—a wider free throw lane and 3-point field goal for successful shots beyond 25 feet.
Bill Russell led Red Auerbach's club from the middle with his shot blocking and rebounding, where he ranked a huge second place in the NBA.
The Lakers were led by super forward Elgin Baylor, whose high-flying drives, surprising strength and all-around game awed many again this season.
Coach Alex Hannum's club were led by the trio of center Johnny Kerr, promising young forward Lee Shaffer and guard Hal Greer.
The Cincinnati Royals continued to recover from the tragedy of Maurice Stokes with another huge year from third-year superstar Oscar Robertson.
The converted 6' 5 210-pound forward was now rated by many as the best non-center to ever play in the NBA, lighting up the Royals backcourt with 28.3 points, nine rebounds and ten assists per game.
A balanced starting five and some key reserves supported Robertson, as coach Charlie Wolf's team won over half their games for the second straight year.
Draft picks Larry Siegfried and Jerry Lucas signed with the Cleveland Pipers of Abe Saperstein's American Basketball League.
Wilt Chamberlain's first season in San Francisco had his usual incredible stats, but the club failed to win half their games.
In the West, St. Louis topped Don Ohl, Bailey Howell, Ray Scott and the Detroit Pistons three games to one to meet the Lakers in the second round.
x – clinched playoff spot Note: Prior to the 1969–70 season, league leaders in points, rebounds, and assists were determined by totals rather than averages.