At the end of the elimination round, the FEU Tamaraws finished on top of the team standings; the defending champions De La Salle Green Archers was tied with the Ateneo Blue Eagles and the UE Red Warriors for second.

FEU and La Salle won convincingly against Ateneo and UE respectively in the semifinals to set up a rematch of the previous year's finals series.

At the end of the tournament, La Salle returned their 2005 runner-up and 2004 championship trophies to the league after it was revealed they fielded two ineligible players.

The league decided to suspend La Salle for the succeeding season in both divisions for all events, and the 2004 championship trophy was awarded to FEU.

Results on top and to the right of the dashes are for first-round games; those to the bottom and to the left of it are second-round games.Since La Salle, Ateneo and UE finished the eliminations with identical 10-4 cards, the quotient system was used.

At the end of the game, La Salle assistant team manager Manny Salgado rushed to the court and hit Santos at the back of the head.

La Salle would still lead up to the final minute when Yeo fouled Mark Isip, who converted the three-point play to put FEU up 72–71.

La Salle failed to score on their next possession, and they fouled Jonas Villanueva, who split his free-throws to end the game.

[5] On August 15, La Salle had received reports that the papers of their men's basketball players Mark Benitez and Tim Gatchalian were spurious.