The team was founded by Jerry Saperstein, who sold it to New York businessman Sol Berg during its inaugural 1974 season.Prior to the 1977 season, the defending champion Sets held a contest to choose a new name for the team, and Apples was selected.On May 7, 1974, the Sets lost their inaugural match on their home court at the Nassau Veterans Memorial Coliseum in the hamlet of Uniondale in the town of Hempstead, New York to the Hawaii Leis, 29–25.[4] After opening the season with two losses at home, the Sets got their first victory in franchise history on the road beating the Cleveland Nets, 31–30, on May 12, 1974.The Sets finished the season in last place in the Atlantic Section with a record of 15 wins and 29 losses.