Virginia Squires
The Oakland Oaks basketball team began play in 1967 as a charter member of the American Basketball Association. Pop singer Pat Boone owned part of the franchise alongside other investors. The team colors were green and gold, matching an earlier short-lived league that folded on the 31st of December 1962. A major contract dispute erupted between the Oaks and the San Francisco Warriors over star player Rick Barry. Barry had led the Warriors to the NBA Finals in 1967 but sat out the entire 1967, 68 season due to unpaid incentive awards. He joined the Oaks for the following season and led them to their only ABA championship in 1969. Despite this victory, the team proved to be a very poor investment for Boone and his co-owners. They drew only 2,500 fans per game at one point because the nearby NBA Warriors competed directly for local attention.
Facing foreclosure from a major loan held by the Bank of America, owner Pat Boone sold the team to Washington D.C. lawyer Earl Foreman. The franchise moved to Washington for the 1969, 70 season under the new name Washington Caps. The team retained its green and gold colors but adopted a red, white, and blue logo featuring the United States Capitol building. They played home games at the Washington Coliseum, which had been built in 1941 and was showing significant age. The neighborhood surrounding the arena was still recovering from the race riots of 1968 when the team arrived. Fears about safety in the Near Northeast area dragged attendance down further. The team finished four games above .500 but lost in the first round to the Denver Rockets. They remained in the Western Division despite being located on the East Coast, forcing them onto the longest road trips in the league.
Merger talks with the National Basketball Association were underway entering the 1970s, creating pressure to move the Washington Caps again. Baltimore Bullets owner Abe Pollin wanted to relocate his own team to Washington but refused to allow the Caps to stay there. ABA owners persuaded Foreman to move the franchise once more, this time making it a regional entity called the Virginia Squires. The team based itself in Norfolk while playing most games at the Norfolk Scope and the Old Dominion University Fieldhouse. Home matches also took place in Hampton at the Hampton Coliseum, in Richmond at the Richmond Coliseum, and in Roanoke at the Roanoke Civic Center. Roanoke was dropped after only one season of play there. The new branding as a statewide team cost the Squires any goodwill they might have earned from Pollin. He believed the team was attempting to steal fans who supported other Washington sports teams. This opposition led to the first merger plan in 1971 seeking to exclude the Squires unless they moved to a new location.
Rick Barry appeared on the 24th of August 1970 front cover of Sports Illustrated wearing a Squires uniform. In the accompanying article inside the magazine, Barry made several negative remarks about the Commonwealth of Virginia. He angered Southerners by stating he did not want his children to grow up saying Hi yall Dad. On the 1st of September 1970, the Squires traded Barry to the New York Nets for a draft pick and $200,000. They officially received only $25,000 out of that deal because owner Earl Foreman needed cash to meet expenses. Despite losing their star player early, the Squires finished their inaugural season in Virginia by winning the Eastern Division by 11 games. They defeated the Nets in the first round of the ABA playoffs before being upset by the Kentucky Colonels. In 1971, the franchise made its biggest draft pick ever by selecting Julius Erving from the University of Massachusetts Amherst. During the 1971, 72 season, Erving became an instant sensation with his scoring prowess and dazzling on-court acrobatics. The team defeated the Floridians in the first round but lost to the New York Nets in the second round.
The 1972, 73 season marked the beginning of the end for the Squires despite having both Julius Erving and George Gervin on the roster. The duo only played together late in the season before Dr J was traded along with Willie Sojourner to the Nets for George Carter and cash during the summer of 1973. Rumors abounded that Gervin would be sold to the San Antonio Spurs during the 1974 ABA All-Star Weekend. These rumors became fact on January 30 when the Squires sold Gervin to the Spurs for $225,000. ABA commissioner Mike Storen tried to block the sale on grounds that selling the last true star was not in the best interest of the league. The sale was eventually upheld despite the commissioner's objections. While these trades provided short-term financing, the loss of talent angered fans and attendance fell through the floor. The final two seasons were an unmitigated disaster with losses mounting up and coach Al Bianchi being fired. The 1974, 75 and 1975, 76 teams won a total of just 30 games, creating the worst winning percentages in ABA history. In 1974, Barry Parkhill sued the team after his paychecks bounced.
The franchise nearly shut down completely in February 1976 but stayed afloat thanks to a sale of advertising banners combined with a $250,000 loan from a local bank. This financial lifeline only bought the team three more months of life before collapse became inevitable. On the 11th of May 1976, the ABA canceled the franchise after it missed a deadline to reimburse players for $120,000 in back pay. The team also failed to meet a $75,000 assessment required by the league. The Squires stood no chance of inclusion in any merger even without Abe Pollin's continued opposition. The NBA did not consider regional franchises viable since none of the home cities were large enough to support an NBA team on their own. The premature contraction cost them a chance to be compensated as part of the merger which closed only a month later. The franchise folded just one month before the ABA, NBA merger commenced, leaving behind a legacy of financial mismanagement and rapid disintegration.
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Common questions
Who owned the Virginia Squires basketball team?
Pat Boone initially owned part of the franchise alongside other investors. Later, Washington D.C. lawyer Earl Foreman purchased the team from Boone after facing foreclosure.
When did the ABA cancel the Virginia Squires franchise?
The American Basketball Association canceled the franchise on the 11th of May 1976. This action occurred after the team missed a deadline to reimburse players for $120,000 in back pay and failed to meet a $75,000 league assessment.
Where did the Virginia Squires play their home games?
The team based itself in Norfolk while playing most games at the Norfolk Scope and the Old Dominion University Fieldhouse. Home matches also took place in Hampton at the Hampton Coliseum, in Richmond at the Richmond Coliseum, and in Roanoke at the Roanoke Civic Center.
Why did Rick Barry leave the Virginia Squires?
Rick Barry made negative remarks about the Commonwealth of Virginia in a Sports Illustrated article published on the 1st of September 1970. The team traded him to the New York Nets shortly after his comments angered Southerners.
What happened to Julius Erving during the 1973 summer trade?
Julius Erving was traded along with Willie Sojourner to the New York Nets during the summer of 1973. The exchange brought George Carter and cash to the franchise in return for the star player.