The 1970–71 Kentucky Colonels season was the fourth season of the Colonels in the American Basketball Association. University of Kentucky star Dan Issel was signed by the Colonels. Issel was given a 10-year contract worth $1.4 million, while playing all but one game in the whole season, leading to him being named Rookie of the Year, alongside averaging 29.9 points and 13.2 rebounds per game during the season. Despite a 10-5 record, Rhodes was fired during the season. After having business manager Alex Groza coach the team for 2 games, Frank Ramsey was hired to coach the rest of the season. In the Semifinals, the Colonels beat The Floridians 4 games to 2. In the Eastern Division Finals, they beat the Virginia Squires 4 games to 2. In the ABA Finals, they lost to the Utah Stars in seven game