ever Horizon League Tournament in 2003, leading to their first appearance in the NCAA Men's Division I Basketball Championship. They would return to the tournament in 2005 where they gained national attention when they defeated Boston College for a trip to the Sweet Sixteen. The Panthers pulled off one more upset in the 2006 NCAA Tournament over Oklahoma under new head coach Rob Jeter.
=== Football ===
Milwaukee disbanded its football program after the 1974 season, its 75th at the varsity level. Although it was considered a small program throughout its existence, it produced six players who went on to play in the National Football League including Houston Oilers All-Pro safety Mike Reinfeldt. Other notable Milwaukee football alums include Bill Carollo, the Panthers' starting quarterback from 1970 to 1973; and University of Illinois head coach Robert Zuppke.
In 2011, then-athletic director Rick Costello hired a consulting firm to look into the feasibility of reinstating football at the university.
Since 2003, …