The credit is somewhat dubious, but the origin of the alley-oop play probably started at the University of San Francisco with K C Jones lobbing the pass to Bill Russell for the slam (per Wikipedia): In the 1950s, some players began grabbing balls in mid-air and then dunking . K. C. Jones and Bill Russell teamed up to perform the alley-oop several times while at the University of San Francisco in the mid-1950s. During their time with the Dons, Russell and Jones led the team to a then-record 55-game win streak (including an undefeated 29–0 record during the 1955–56 season ) and helped pioneer a play that later became known as the alley-oop . It makes sense. K C was an accomplished playmaker, and Russ was a leaper and amazingly athletic. Their USF teams were so powerful that it allowed experimentation without risking losses. It is notable that in the photo, K C is relegated to the back row - which brings me to the Basketbal...
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