The team played its home games in the Dean Smith Center in Chapel Hill, North Carolina and is a member of the Atlantic Coast Conference.

They received an at-large bid in the 2011 NCAA Division I men's basketball tournament where they advanced to the Elite Eight before falling to Kentucky.

The team lost seniors Deon Thompson and Marcus Ginyard to graduation, while sophomore Ed Davis made himself available for the 2010 NBA draft.

The team was dealt an unexpected loss as twin freshmen David and Travis Wear announced that they would transfer from UNC on May 6, 2010,[3] ultimately landing at UCLA.

Sources: UNC took part in the 2010 Puerto Rico Tip-Off and the ACC – Big Ten Challenge.

The following schools will compete in 2010 Puerto Rico Tip-Off: Davidson, Hofstra, Minnesota, Nebraska, North Carolina, Vanderbilt, West Virginia and Western Kentucky[4] UNC had already scheduled non-conference games against Kentucky, Texas (in Greensboro), Charleston, Long Beach State, at Illinois, at UNC-Asheville, at Evansville, and at Rutgers (Madison Square Garden).

They had a chance to return to the rankings with a win over Texas in what was essentially a home game at the Greensboro Coliseum, but lost on a last-second shot by the Longhorns' Cory Joseph.

The Tar Heels opened ACC play with close wins over the league's two Virginia teams.

On February 4, the Tar Heels were broadsided when point guard Larry Drew II abruptly left the team.

UNC next played the Kentucky Wildcats team, fresh off a win against the overall number one seed – the Ohio State Buckeyes.

But freshman Brandon Knight hit a clutch 3-pointer, and Kentucky beat UNC 76–69 to advance to the Final Four in Houston.

Blue Steel is composed of six players who, despite being non-scholarship athletes, have a position on the team and play a key role in its development.

They are led by Basketball Hall of Fame coach Roy Williams, who is third all time in the NCAA for winning percentage.

[9] The term "Blue Steel" was created by walk-on member Stewart Cooper, a 2010–2011 Junior from Forsyth Country Day School, and has quickly gained prominence.

At the end of North Carolina’s 84–64 win over N.C. State at the Dean Smith Center on January 29, fans chanted their new group name.

The chant was at its optimum in Saturday’s pre-game introductions and when the walk-ons went to cut down the nets after three of them started against Duke on Senior Night.

#respect" • "We're gonna have a far better view than the "crazies" and we didn't waste all of January sleeping in a tent.

[1] In the rival matchup between North Carolina and Duke University in 2011, Roy Williams started the senior members of Blue Steel.

Dates with members of the school's basketball team were auctioned off in order to support the organization, which aims to raise money for sick children.