On Dec. 1, 1891, Canadian phys-ed teacher James Naismith nailed peach baskets 10 feet above the floor on either end of a gymnasium in Springfield, Mass. – and the game of basketball was born. The first professional league came seven years later, with players earning $2.50 for home games and $1.25 for games on the road. In 2006, the highest-paid player in the National Basketball Association made more than $250,000 per game. And, of course, the NBA doesn’t use peach baskets. Naismith coached basketball at Kansas University from 1898 to 1907.