The Royals appeared in their first NBA finals by defeating the Fort Wayne Pistons in the semifinals and the two time defending champion Minneapolis Lakers in the division finals while the Knicks defeated the Boston Celtics in the semifinals and the Syracuse Nationals in the division finals. This was the first finals appearance for both teams, and the first Finals with two teams that hadn't made a finals appearance since the 1947 BAA Finals
The 79–75 Game 7 loss by the New York Knicks is the closest of any Game 7 involving teams overcoming 3–0 deficits in NBA history.
In 1994 the Denver Nuggets forced a Game 7 against the Utah Jazz, but lost 91–81 (10 points). Also, the 2003 Portland Trail Blazers forced a Game 7 against the Dallas Mavericks, but lost 107–95 (12 points).
In Game 7, Bob Davies snapped a 75–75 tie by sinking both free throws to give the Royals the lead for good. This was the first and to date last title for the Rochester Royals, who would soon move to Cincinnati for the 1957-58 NBA season, spending 15 years mired in mediocrity before moving to Kansas City in 1972 (once appearing in the 1981 NBA Playoffs), then finally to Sacramento in 1985, who reached the conference finals in the 2002 NBA Playoffs, their closest to reaching the NBA finals in recent years. The Royals/Kings have the longest title drought (63 years), and also the longest Finals appearance drought in history.