Playing at Chicago Stadium, the Chicago Stags were one of the 11 charter teams in the first season of the Basketball Association of America. The Stags coached by Harold Olsen, a longtime coach at Ohio State, who led the Buckeyes to the finals in the first-ever NCAA Tournament in suburban Chicago, defeated the New York Knickerbockers 63-47 in the first game on November 2nd.

Led by players like Guard Max "Slats" Zaslofsky and Center Chick Halbert, the Stags were one of the strongest teams in the BAA's first season as they won the Western Division with a record of 39-22. Zaslofsky, a first-team All-Star, led the team in scoring with 14.

4 points per game, while Halbert scored 12. 7 points per game and was a second-team All-Star.

In a battle of division winners, the Stags faced the Washington Capitols in the semifinals. The BAA's playoff format had the division winners play a best of seven semifinals while the second and third place teams played two best of three rounds.

The Stags got off to a strong start in the series, winning the first two games on the road by scores of 81-65 and 69-53. Following a 67-55 win at Chicago Stadium in Game 3, the Capitols beat the Stags 76-69 in Washington to avert a sweep.

The Stags would also suffer a 67-55 home loss in Game 5, before finally winning the series in six games, with a 66-61 win in the finale. 1947 BAA Finals: Facing the Philadelphia Warriors, the Chicago Stags hosted the first game in the BAA Finals, with 7,900 fans at Chicago Stadium.

The Stags had trouble all game finding the basket as the made just 26 of 129 shots, losing the opener 84-71. Game 2 would not be much better as the Stags suffered an 85-74 loss.

The Stags struggles continued in Philadelphia as they lost 75-72 in Game 3. The Stags would salvage Game 4, with a 74-73 win, but ultimately lost the series in five games, falling 83-90 in the finale.