1967–68 ABA season

Each team owner made a commitment that they would have the resources to run for at least three years on annual budgets of $500,000 and would be able to absorb any financial losses during that period.

[3] In June 1967, NBA leading scorer Rick Barry left the San Francisco Warriors to sign with Oakland, making him the seventh player and the first superstar to defect to the upstart league.

The landmark three-year contract offer from singer and team owner Pat Boone was estimated to be worth $500,000 and would make him one of basketball's highest-paid players.

[4] The agreement included 15 percent ownership in the franchise, which led Barry to remark, "The offer Oakland made me was one I simply couldn't turn down."

In August, however, a superior court judge upheld the reserve clause in Barry's contract and ruled that he was obligated to play for the Warriors or sit out for the entire season.

Mikan ruled that the Americans had failed to provide acceptable playing facilities and forfeited the game to the Colonels, with Kentucky advancing to the divisional semifinals.