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Basketball is officially classified as an Olympic Sport, and the first tournament is held, in which the U.S took the gold medal.
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The U.S team was able to win 7 consecutive gold medals at the olympic basketball tournament, which still stands as the longest streak of any event in olympic history
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The U.S 1992 Olympic Basketball team was classified as the dream team, which heralded some of the greatest players in basketball history such as Michael Jordan, Larry Bird, Magic Johnson, and John Stockton
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The team lead by all-time greats such as Allen Iverson and Tim Duncan, lose to Argentina 89-81, led by Manu Ginobli
