The CAAA has had a rich history from the 1930s until it dissolved in 2000, producing top Filipino basketball players such as Ramon Fernandez of USC, regarded as the greatest Filipino basketball player during the golden years of the Philippine Basketball Association (PBA) in the 1970s and 1980s, alongside two-time PBA MVP Abet Guidaben, Jojo Lastimosa, Zaldy Realubit, Bernie Fabiosa, and Dondon Ampalayo of University of San Jose–Recoletos (USJ-R).

The University of San Carlos, Salazar Institute of Technology, and Don Bosco Technology Center were all tied at second place, with identical 3–2 win loss records, with the second-placed team set to face the University of the Visayas in the finals of the high school basketball division.

However, confusions surrounding the quotient system to break the tie between the three teams cost Salazar the second place and, subsequently, a spot in the finals.

However, a couple of months after the ordeal, the CAAA ceased to exist, and in place came in a new league, named as the Cebu Schools Athletic Foundation, Inc. or CESAFI.

The Southwestern University, who were the champions of the last season of the CAAA in 2000, despite being included in the CESAFI, decided against fielding a team in the new league.

However, this changed in the league's 10th season, after the University of Cebu, led by June Mar Fajardo, became the first team other than UV to win the basketball championship.

In 2013, a high school basketball player named Scott Aying, son of former PBA player Danny Aying, was ruled ineligible after failing to serve a two-year residency period after transferring from San Beda College to the University of San Carlos.

Since its inception in 2001, replacing the old Cebu Amateur Athletic Association, CESAFI has received extensive coverage from the Cebu media and local and national newspapers like Sun.Star and The Philippine Star, but still lags behind in terms of its Manila-based counterparts UAAP and the NCAA in terms of publicity.

However, this changed as on its 15th season, the CESAFI went into nationwide TV coverage after signing an agreement with IBC 13 and Viva Sports.

The endeavour is called "CESAFI Live" and was hatched by long-time commissioner, Felix Tiukinhoy, Jr., who expressed his desire to create an environment where students are not just mere spectators.