NOTE: This spoiler was sent in by Frank.
The movie starts with a late 70's montage of Jackie Moon's accomplishments, including his hit song "Love Me Sexy". The montage indicates that Jackie (Will Ferrell) made a great deal of money from the album sales and used those earnings to buy the Flint Michigan Tropics, a small semi-pro basketball team in the ABA and Jackie has a flair for promoting his team with outlandish gimmicks to get people in the stands.
After the montage we are introduced to Jackie who is singing "Love Me Sexy" to a very small (maybe 10 people) crowd at the Flint Coliseum. After the song ends we find out that Jackie is the Owner/Player/Coach/Promoter for the Tropics.
After the theatrics the game starts we see that The Tropics are not very good. Their only star Clarence “Coffee" Black (André Benjamin) is late to the game and shows up at the in the second half. It is clear that Coffee is a very good player, but he also is very selfish.
During the game Jackie gives a longtime fan Dukes (Jackie Earle Haley) a chance to win $10,000 by making an "Impossible" 3/4 court shot which he makes. Jackie is angered because he doesn't have $10,000 to give him so he tells him that the big check is the actual check for him. The Tropics lose the game and afterwards Jackie heads off to the team’s favorite club.
In the crowded club, Jackie immediately changes the current song playing to "Love Me Sexy" much to the chagrin of many of the club goers.
In the club, teammates Be Be, Twiggy, Scootsie, and Vakidis are worried that the ABA is about to fold. Jackie tells them that they are all right because the NBA wants to merge with the ABA.
In the league meeting with all the owners, the Commissioner (David Koechner) informs the owners that the NBA will only take four ABA teams. After Jackie goes off, the other owners agree that the teams with the best four records should merge.
Back at the Coliseum, the Tropics are preparing for practice when Jackie informs them that he has traded the team’s washer for Monix (Woody Harrelson). Monix used to play for the Boston Celtics and won a championship with them. The team members dislike Monix for many different reasons but mostly because he has fought each of the players at one point but Jackie tells them he was the only player that wanted to come to Flint.
After practice, Monix goes to see his ex, Lynn (Maura Tierney). Her boyfriend Kyle (Rob Corddry) is Monix's biggest fan so he overlooks Monix hitting on her in front of him.
Jackie knows nothing about real basketball but does no how to promote the tropics. At a home games Jackie's next stunt is to attempt to roller skate down a ramp and jump 7 laid out bikini dancers and lands on one of them very hard.
When the Tropics are traveling to an away game, the guys start asking questions about Monix's championship ring; he shows them but a jealous Coffee tells them that he never played in any of the playoff games but instead sat on the bench.
At the game Jackie gets into an argument with the ref, Father Pat (Matt Walsh) and both the team and the play-by-play guys Dick Pepperfield (Andrew Daly), and Lou Redwood (Will Arnott) walk out.
After another loss, Monix, Jackie and Coffee argue about Jackie's lack of basketball knowledge and coaching skills. Monix gives Coffee his championship ring and tells him he will never play in the NBA because he never learned how to play "Real Basketball".
Monix is arrested for breaking a cop cars window and Lynn bails him out and then drains the fluid from his knee like she used to do. The next day Coffee approaches Monix to coach the team. The team informs Jackie who is hurt, but they tell him he will still be the head coach and Monix will be Offense and Defensive coach. After putting the team through a running play (the Puke) all practice all the players puke. Jackie cannot so Monix punches him in the dajoonum (stomach) and he finally does.
The team gets better with Monix as coach and they start to win and the Tropics are now 2 games from fourth place. Again Jackie has a promo that if the Tropics score 125 points every fan will get a free corndog. With 30 seconds left the Tropics have 124 and Jackie does everything in his power to stop them from scoring including goal-tending their own shots and trying to tackle Vakidis as he scores an open lay-up at the buzzer. Jackie, knowing he doesn't have ANY corndogs, runs out of the gym.
Monix goes to see Lynn and the end up having sex on her couch. Kyle catches them but he is happy just to see his favorite player sleeping with his woman.
Bobby Dee (Andy Richter) informs Jackie that the Commish is coming to their next game so they must have at least 2000 fans at the game. Jackie comes up with a Fight A Bear Night for the night the Commish attends the game. After some prodding, the bear beats the crap out of Jackie and escapes out into the crowd. Jackie overreacts and everyone panics right as the Commish arrives. Everyone runs out and the Commish informs Jackie that the NBA only wants New Jersey, Denver, Indiana, and the first place San Antonio no matter how the Tropics finish despite them being one game out with one game left against San Antonio.
Dejected, Jackie and the team disband. Jackie trades Coffee to San Antonio to live out his NBA dream. After talking to Coffee, Monix get Jackie to call a team meeting.
At the Meeting, Jackie tells the team that he is a fake and that his mother wrote "Love Me Sexy" on a napkin 3 days before she died and he stole it. The team tells him he is not fake and they decide to go out on top, with the top being 4th place.
With nothing to play for, Jackie bills this game as the first and only Mega Flint Bowl. Fans show up in massive numbers to support the Tropics in their farewell game.
The game starts with San Antonio scoring at will against the outclassed Tropics and with Coffee sitting on their bench. During the game Jackie is fouled hard by a San Antonio player and is knocked out cold. Jackie sold the team stretcher so they carry him off the court to the locker-room. Angry by his team’s overly physical play, Coffee leaves the bench to join the Tropics in the locker room. While out Jackie dreams about his mother (Patty LaBelle) in heaven. She forgives Jackie for stealing her song "Love Me Sexy" and gives him a new gift. When Jackie awakes he tells the team about his dream and about the gift she gave him. It is a shot called the Ally-Oop slam-dunk.
During the second half of the game Monix and Coffee perform the Ally-Oop and everyone stops in amazement. Not knowing what to call Father Pat calls fouls on both Monix and Coffee saying it is against the rules for a player to "fly through the air like that". Monix argues that it is not a foul but a basket and worth 2 points. Father Pat concedes and allows the shot to count.
With the Ally-Oop the Tropics mount a massive comeback. With seconds left and up by 2, San Antonio finally figures out how to stop the Ally-Oop. Monix calls the first play they worked on called the puke and Jackie gets free for a shot but is fouled in the act of shooting. Jackie is given 2 free throws with the team down by 2. He makes the first, but the second bounces off the side of the rim. As all the players scramble, Monix slashes to the basket and tips the ball back in...Tropics win!
The San Antonio coach gives Coffee back his team jersey saying they can use his new Ally Oop shot in the NBA. The Commish also offers Jackie a job promoting the NBA.
Just as he is about to tell Jackie that he has a job as long as he lives the escaped bear attacks him...
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