14 teams made up of two semifinal groups, with six being seeded into the penultimate round.
Group X – newly-crowned MICAA champion Manilabank, Imperial Textile Mills, San Beda-PRCI, Crispa, the defending champions which entered the tourney with a lineup composed mostly of ‘Palarong Pambansa’ standouts, Mama’s Love, the only team from the South, Universe Health Palace, another provincial team coming from Angeles City, and Constellation Ships.
Group Y – Villar Records, Crown Motors, San Miguel Corporation, MICAA runner-up YCO Painters, Concepcion Industries, Talon Zipper, and UST, the only collegiate team in the tournament.
The six teams which entered the magic six were: SMC, YCO, ITM, Manilabank, Crispa and Villar.
The San Miguel Corporation, coach by Gabby Fajardo, earn its second major title in three years via clean sweep of the championship round of six. The Braves suffered their only loss to lowly Talon cagers, who didn’t make the final round.
Members of the champion team were: Esteban Henares, Heracleo Pidor (skipper), Jose Fresnoza, Manuel Martinez, Ernesto Dionisio, Romeo Santos, prize-rookie Marty Tierra, Moises Cunanan, Paulino Velasco, Porfirio Rodriguez, Napoleon Burcelis, Cesar Bauto, Roberto Santiago, Herminio Kalaw and Adolfo Calaycay.
The last time SMC took a title was in 1973, when the team were spearheaded by then amateur standouts Manny Paner, Dave Regullano, Rollie Marcelo, Estoy Estrada, Yoyong Martirez and Alejandrito Miego. Three hot rookies helped the team in bagging the seniors crown; Ramon Fernandez, fresh from his stint with the youth team in the ABC Youth Championship, collegiate standout Norbie Rivera and Jimmy Otazu.