[9] The court is named after Branch McCracken, the men's basketball coach who led the school to its first two NCAA National Championships in 1940 and 1953.

Indiana officials spent decades planning and four years of construction before The Assembly Hall was finally opened in 1971 at a cost of $26.6 million.

The opening of the arena coincided with the debut of coach Bob Knight, who guided the Hoosiers for 29 seasons before his dismissal by then-IU president Myles Brand in September 2000.

School officials were intent on having the majority of the seats on the sides in order to improve the viewing experience, with only a small number (20 rows of bleachers) behind the baskets.

[12] Upon his dismissal from Indiana, head coach Bob Knight predicted that with his departure advertisements would soon find their way into The Assembly Hall.

[18][19] The scheduled game for that day against the University of Iowa was postponed due to safety concerns in spite of multiple available arenas in Indiana.

[20] On January 28, 2023, a bracket over a foot long fell onto the court at Assembly Hall during halftime against the Ohio State Buckeyes.

[21] The Assembly Hall is well known as being one of the loudest venues in college basketball, aided both by passionate fans and its unique design of steep sides.

During the 2015-2016 basketball season, both the men's and women's teams went undefeated at Assembly Hall, posting a combined 33–0 record at home.

On June 22, 2007, Indiana University trustees approved the demolition of the Assembly Hall and the construction of a new basketball arena "when appropriate".