After the previous season had mercifully ended, doubt was put into if the Tams would stay in Memphis, as the phone lines and team office were closed.
Charlie Finley tried to sell the team, with a Rhode Island group in discussion with Finley, but nothing came of it, with Finley subsequently dealing with a heart ailment for most of the summer, which rose a problem for the ABA, particularly with making schedules for the teams.
The league's attempts to reach Finley came in late August, with the schedules for the league being released on August 25 - just over a month before the season was due to start.
At one point in the season (November 29-December 21), they lost 13 straight games, with a 12-game losing streak occurring later in the year.
On July 17, 1974, Mike Storen, Issac Hayes, Avron Fogelman, and Kemmonis Wilson bought the team, rebranding the team as the Memphis Sounds.