The money troubles that had troubled the franchise meant that the Squires were forced to trade away pivotal players of the franchise in order to provide short term stability.
Julius Erving (along with Willie Sojourner) was traded to the New York Nets for George Carter and cash before the season started.
[1] Swen Nater was traded on November 21, 1973, to the San Antonio Spurs.
The night of the All-Star Game, it was announced that the Squires sold George Gervin to the San Antonio Spurs for $225,000.
[3] Eastern Division Semifinals[4] Squires lose series, 4–1 1974 ABA All-Star Game selections (game played on January 30, 1974) at Norfolk Scope in Norfolk, Virginia