The Board of Directors of the Indiana Basketball Hall of Fame made an exception by honoring a specific team in 2004 in addition to individual players and coaches.  The board voted unanimously to induct the 1954 Milan High School Basketball Team , as a team , since their story is unique in the history of basketball in the State of Indiana.  The school, with an enrollment of 161 students, captured the imagination of nearly all sports fans, as David slew Goliath.  It was a small school playing a large school, with a rich tradition of success, for the state basketball championship. 

Hollywood thought the game was a winner, as the movie Hoosiers became a hit worldwide.  It was based on the 1954 Milan High School Basketball season.  Tourists have visited the Indiana Basketball hall of Fame from every state in the country and from 62 foreign nations.  Nearly all of the visitors are familiar with the film.

Sports Illustrated conducted a poll concerning the 25 best and favorite all time sports wins during the 1900's. The results revealed only one high school was listed in addition to the college, Olympic and professional teams in the survey.  The Milan Indians of 1954 occupied the 12th spot on the all-time favorites list.

Milan High School was the last small high school to win the state Basketball championship in the single class format.  Following the 1997 season the IHSAA changed the tournament and adopted a four-class system.  Undoubtedly, the mystic of the Milan win will last forever.