This was the debut season of future Hall of Famer Julius Erving.
Just before the season ended, Charlie Scott left the team and joined the NBA's Phoenix Suns, completing a trade with the Boston Celtics (who held his original draft rights) for Paul Silas.
Scott set the all-time ABA individual single-season scoring record by averaging 34.6 points per game.
[1] After the season, the Squires stopped playing in Roanoke, electing to focus on Norfolk, Hampton, and Richmond only.
Eastern Division Semifinals[2] Squires win series, 4–0 Eastern Division Finals vs. New York Nets Squires lose series, 4–3 1972 ABA All-Star Game selections (game played on January 29, 1972)