Losing only one game against the PCU Dolphins, the San Beda Red Lions only suffered one loss to finish first in the elimination round.

PCU and the Letran Knights were tied for second place; the Dolphins won the second-place playoff to seize the #2 seed and the twice-to-beat advantage.

[2] To prevent allegations of game-fixing, the Management Committee asked for the help of the National Bureau of Investigation (NBI) to thwart efforts of such activities.

[6] Management Committee (MANCOM) chairman Bernardo Atienza of CSB clarified on an interview broadcast during the opening ceremonies that a rumoured seven-game suspension for Baculi for using indecent language in a PCU game on a tune-up league was untrue.

With increased taunting from both sides, the Knights mounted a furious comeback, trimming the lead to one point thanks to Mark Balneg's 6–1 run.

The Red Lions managed to crawl back to within two at the end of the third and it was one frustration after another before San Beda equalized late into the fourth period with free throws from rookie Pong Escobal.

[9] The Dolphins are in their third consecutive Finals appearance; they defeated the Perpetual Altas in 2004 under coach Loreto Tolentino, lost to the Letran Knights in 2005 with Junel Baculi at the helm, and are now facing the San Beda Red Lions.

It was a nip and tuck affair in the first half of Game 1 with the Dolphins managing a slight margin at the end of the second quarter.

It was virtually over by the start of the 2nd half as the Lions continue to fire blanks and the Dolphins proceeded to spoil San Beda's bid to end 28 years of frustration.

Forward Yousif Aljamal was named Finals MVP, after showing the same offensive consistency that was sorely lacking during their game 2 blowout loss.