The first professional basketball leagues all went out of business. Why? To learn the answer, you'll need to read The Originals: The New York Celtics Invent Modern Basketball, written by Murray Nelson, professor of education and American studies.
The Originals, published by Bowling Green Popular Press (1999), chronicles the original professional basketball leagues that developed primarily in the Northeast and along ethnic lines, including the legendary New York Celtics.
Early professional basketball was a swiftly evolving game its invention in 1891. The Original Celtics began as a local group of young Irishmen from the Hell's Kitchen area of New York City in 1914, but through shrewd acquisitions of top players, the Celtics were transformed into the most powerful basketball team of their time.