| Team: | Kentucky Colonels |
| League: | ABA |
| End Year: | 1971 |
| Wins: | 44 |
| Losses: | 40 |
| Division: | Eastern |
| Division Place: | 2nd |
| Coach: | Gene Rhodes (10–5) Alex Groza (2–0) Frank Ramsey (32–35) |
| Arena: | Freedom Hall |
| Playoffs: | Lost in the ABA Finals |
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 games.
| Eastern Division | W | L | PCT | GB | |
|---|---|---|---|---|---|
| Virginia Squires * | 55 | 29 | .655 | – | |
| Kentucky Colonels * | 44 | 40 | .524 | 11.0 | |
| New York Nets * | 40 | 44 | .476 | 15.0 | |
| The Floridians * | 37 | 47 | .440 | 18.0 | |
| Pittsburgh Condors | 36 | 48 | .429 | 19.0 | |
| Carolina Cougars | 34 | 50 | .405 | 21.0 |
Eastern Division Semifinals[1]
| Game | Date | Location | Score | Record | Attendance | |
| 1 | April 2 | Kentucky | 116–112 | 1–0 | 3,182 | |
| 2 | April 4 | Kentucky | 120–110 | 2–0 | 3,881 | |
| 3 | April 6 | Florida | 102–120 | 2–1 | 4,126 | |
| 4 | April 8 | Florida | 117–129 | 2–2 | 4,268 | |
| 5 | April 10 | Kentucky | 118–101 | 3–2 | 4,996 | |
| 6 | April 12 | Florida | 112–103 | 4–2 | 4,478 |
Eastern Division Finals
| Game | Date | Location | Score | Record | Attendance | |
| 1 | April 15 | Virginia | 136–132 | 1–0 | 4,250 | |
| 2 | April 17 | Virginia | 122–142 | 1–1 | 5,000 | |
| 3 | April 19 | Kentucky | 137–150 | 1–2 | 4,777 | |
| 4 | April 21 | Kentucky | 128–110 | 2–2 | 5,221 | |
| 5 | April 23 | Virginia | 115–107 | 3–2 | 10,013 | |
| 6 | April 24 | Kentucky | 129–117 | 4–2 | 12,822 |
ABA Finals[1]
| Game | Date | Location | Score | Record | Attendance |
| 1 | May 3 | Utah | 117–136 | 0–1 | 12,051 |
| 2 | May 5 | Utah | 125–138 | 0–2 | 13,208 |
| 3 | May 7 | Kentucky | 116–110 | 1–2 | 12,337 |
| 4 | May 8 | Kentucky | 129–125 (OT) | 2–2 | 9,863 |
| 5 | May 12 | Utah | 127–137 | 2–3 | 13,260 |
| 6 | May 15 | Kentucky | 105–102 | 3–3 | 11,793 |
| 7 | May 18 | Utah | 121–131 | 3–4 | 13,260 |
1971 ABA All-Star Game selections (game played on January 23, 1971)