As of October 2016, the San Beda Red Lions have more collegiate championships in the seniors' division compared to the Letran Knights.

Letran is on the verge of sweeping the tournament to become eventual champions (the Final 4 format was not yet implemented), but San Beda beat them to arrange a championship showdown with the Knights.

The Letran team was called "Murder Inc." by the late Willie Hernandez because of their merciless brand of basketball.

With the exit of their fierce rivals, Ateneo for San Beda and La Salle for Letran, some say the rivalry has died down because of their heaven and earth situation not until in 2006 when the Lions won their 12th championship after 28 years.

During that same year San Beda won twice against Letran and denied the Knights to gain a twice-to-beat advantage in the Final Four.

In 2007, San Beda and Letran played for the championship for the second time which was dubbed "The Dream Finals" because it featured two NCAA teams who have very rich basketball history and tradition.

In this series, San Beda had a championship score to settle with Letran (to avenge their defeat in the finals 57 years prior).