The NBA All-Star Game was held at the MCI Center in Washington, D.C.. The East won 111-110, with Philadelphia's Allen Iverson being named the game's Most Valuable Player. The game is noted for the Eastern's 21-point comeback in the fourth quarter.
The Grizzlies play their final season in Vancouver before relocating to Memphis, Tennessee for the following season.
Rick Pitino resigned as head coach and president of the Boston Celtics, ending a three-plus year tenure filled with turmoil, disappointment and three consecutive below .500, non-playoff seasons.
The Los Angeles Lakers win their second straight title by going 15-1 in the playoffs, the best playoff winning percentage in NBA history.
The Toronto Raptors made the second round of the playoffs for the first (and currently only) time in franchise history, winning over New York 3-2. They lost in the second round to Philadelphia 4-3.
Prior to the season, Miami Heat center Alonzo Mourning announced that he suffered a kidney disorder and missed the first five months of the season. Mourning would receive a kidney transplant two years later.