The Nuggets were the first major professional sports franchise in Colorado, but disbanded after going 11–50 in their inaugural season.

Featuring players such as McCracken, Ace Gruenig and Vince Boryla, the Nuggets continued as an AAU power throughout their existence, and the AAU has been credited by historians for helping put Denver on the national sports map.

Rather than join the National Industrial Basketball League (NIBL), which was founded in 1947 and remained amateur, the Nuggets' general manager, Hal Davis, secured a franchise in the nine-team National Basketball League to play in the 1948–49 season.

[1] In 1950, the Nuggets were one of seven teams, including Anderson Packers, Chicago Stags, Sheboygan Red Skins, St. Louis Bombers, Washington Capitols, Waterloo Hawks, that dropped out of the National Basketball Association altogether.

[2] Briefly, in the 1950–51 season, the Denver Refiners played in the National Professional Basketball League (NPBL), which was made up of franchises that left the NBA.