The 1970–71 Carolina Cougars season was the 2nd season of the Cougars in the ABA. The Cougars finished dead last in the Eastern Division, though they missed the playoffs by 3 games. They finished 8th in point per game at 115.3 points per game, while finishing 6th in points allowed at 119.4 points per game. The team faltered near the end of the season, losing 11 straight games from February 25 to March 19. Their biggest win streak was 3, which they accomplished 5 times in the season.

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During the regular season, the Cougars played 18 games in Greensboro, 12 in Charlotte, and 12 in Raleigh.

• 31 Gary Bradds - Forward
• 27 Joe Caldwell - Small forward
• 13 Frank Card - Small forward
• 34 Mack Daughtry - Guard
• 33 Ira Harge - Center
• 12 Rich Johnson - Point forward
• -- Arvesta Kelly - Guard
• 13 Lonnie Kluttz - Forward
• 21 George Lehmann - Point guard
• 23 Gene Littles - Point guard
• 22 Chuck Lloyd - Center / Forward
• 35 Randolph Mahaffey - Power forward
• 44 Larry Miller - Shooting guard
• 24 Dave Newmark - Center
• 51 George Peeples - Center
• 11 Bob Verga - Shooting guard
• 14 Vann Williford - Small forward

1971 ABA All-Star Game played on January 23, 1971 at Greensboro Coliseum in Greensboro, North Carolina.

• Joe Caldwell