First Shot: Just about everyone knows the story behind the invention, when a Canadian named James Naismith got imaginative with a peach basket one day while trying to come up with ways to keep his charges at the YMCA in Springfield Mass active for the winter.

It has become a folksy, wholesome sort of tale, best narrated by the guy who does the voice in The Wonder Years. The game quickly caught on, not just in the States but across the globe. Basketball, though, remains a fundamentally American pursuit and the image of the lone shooter at an outdoor hoop has been frequently portrayed in movies and literary fiction as an idyll, a rites of passage moment recognisable to all.

Strange to think that a Canadian could invent something as flash and fast as basketball . . . Yeah, but at first it was slow and methodical and probably extremely boring. Players could (and did) hold the ball for minutes at a time. Entire halves expired with a score. It was as tactical and only slightly more exhilarating than chess. Gradually, they modified the rules to speed-up the game and the inner city playground games revolutionised the sport in both concept and image.

So, what are the rules? Five players per team, with substitutes inter-changeable at the coach's discretion. Any player who fouls more than five times is out, replaced by another. Possession switches every 30 seconds. Olympic games are divided into two halves of 20 minutes, with a five-minute period of overtime played if scores are tied in regulation. There are no draws in basketball.

When did it fist feature in the Olympics? In Berlin in 1936. Strangely, the International Basketball Federation passed a rule that banned all players over six foot, three inches. The Americans successfully appealed and duly brought six-foot-eight-inch Joe Fortenberry from Kansas. Big Joe went on a scoring spree in the final, which was played outdoors on sand, in the rain. Dribbling the ball was impossible. James Naismith was on hand to present the medals.

That win set a trend: The Yankees won in London in 1948, Helsinki, Melbourne, Rome, Tokyo and Mexico. Then came Munich in 1972.

Sounds ominous. One of the most famous Olympic stories. The USA went into the final boasting an Olympic record of 62 wins, no losses. They were up against the Russians. It was a low-scoring thriller and with six seconds left, the Russians were a point up. America's Doug Collins was fouled and went to the free throw line where he sank two shots. Then things got weird and technical.

The Russians managed to call a dubious time out and inbounded the ball with two seconds left. Time elapsed and the Americans, believing they'd won, ran onto the court rejoicing.

At this point, Britain's, RW Jones, an official of notorious power, intervened and ordered the clock be reset to three seconds. Russia's Ivan Eseshk threw a full length pass which was caught by Aleksandr Belov, who beat the clock to score the winner.

So it was grand larceny? In many ways. The USA appealed and while signing the official protest, coach Hank Iba had his pocket picked and lost $370. Facing an appeal committee loaded with East European representatives, the Americans lost. They declined their silver medals. Poor Belov, the maligned scorer was found dead six years after the game.

Did the USA got back on track? Sure, won in Montreal in 1976, boycotted Moscow in 1980 and again claimed first in LA four years later. But in Seoul, fielding, as usual, a team of college players, they only took third place. Worse, they were knocked out by the Soviets. It was humiliation. The Soviet Union took gold against Yugoslavia.

So in true American fashion, they came back and kicked butt. Yep. In 1989, the IBA voted to allow NBA players to participate in the Games. It was apparent that for Barcelona in 1992, the States would have a team that was untouchable. Nicknamed `the Dream team', it featured perhaps the three best players of all time.

Oh yeah, that was Magic, Michael and . . . Laettner? No, Larry. The self-styled Hick from French Lick, the Birdman, Larry Legend. A son of Indiana, spiritual home of basketball. Mythical for his feats with the Boston Celtics, where they still pine after him.

Remarkable for the brilliance of his shooting and passing and for the fact that he could sport a wild-rover haircut and blonde moustache and still look like a dude. He was half-crocked by 1992 but to see him on court with the best player in the universe . . . Laettner? No, fool, Jordan, and his old adversary Magic Johnson, and other heroes such as Pat Ewing, John Stockton and Charles Barkley.

So who was this Laettner guy? A big white stooge from Duke university, adored for being preppy and hitting the winning shot in the NCAA finals. Putting him on the team was like getting to see soccer's all time best world XI play together only to find that they included Tony Dorigo at left back.

So what happened? Well, the Dream Team won, of course, high fiving their way through the tournament, posing for photos and scoring 100 points plus per game. In Atlanta, they entered the Dream Team Two but it wasn't the same. The US beat Yugoslavia in the final but seemed a bit disinterested.

And for Sydney? Oh, they'll send a good crew and win but maybe they should revert to sending college kids. Most hype will focus on Vince Carter. Others not going include Shaquille O'Neal, Kobe Byrant, Latrell Spreewell, Stephon Marbury and Allen Iverson.