The Chicago Bulls defeated the Seattle SuperSonics 4 games to 2 in the NBA Finals: to win their fourth championship.
The 1995 NBA lockout was the first lockout of four in the history of the NBA. When the previous collective bargaining agreement expired after the 1993–94 season, a no-strike, no-lockout agreement was made in October 1994, with a moratorium on signing or restructuring player contracts. That moratorium expired on June 15, 1995, one day after the NBA Finals: concluded. The expansion draft (which was held on June 24) and the NBA draft (which was held on June 28) were allowed to take place, but all other league business, including trades, free-agent signings, contract extensions, and summer leagues were suspended[1] from July 1 until September 12; no games were lost due to the lockout, as a new collective bargaining agreement was reached well before the start of the 1995-96 season. Among the key issues in the labor dispute were the salary cap, free agency, a rookie salary cap, and revenue sharing.
The NBA established its first Canadian teams since the 1946-47 Toronto Huskies, as the Toronto Raptors and the Vancouver Grizzlies made their debuts as the NBA's 28th and 29th franchises.
The Chicago Bulls finished the season with a combined regular season and postseason record of 87-13, the best in NBA history.