The Colonels finished tied for fourth place in the ABA's Eastern Division with the New Jersey Americans, and a one-game playoff was to be played on March 23, the day after the Colonels had won the final game of the season over the Indiana Pacers 119–106.
The Colonels refused to play, and ABA Commissioner George Mikan ruled a forfeit in favor of the Colonels.
In the Eastern Division Semifinals, they lost to the Minnesota Muskies 3 games to 2.
Eastern Division Semifinals[1] Colonels lose series, 3–2 1968 ABA All-Star Game selections (game played on January 9, 1968)
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