After coming up short in several games of their tough opening schedule, the Quakers won the championship at the 2003 Dreyfus Holiday Festival in Madison Square Garden. Playing in the "World's Most Famous Arena," Penn was able to prevail in both of its games on back-to-back nights.
In the first round, the Quakers proved that they had the endurance to play two extra sessions, eventually defeating host St. John's, 63-61. It was Penn's first double-overtime game since 1992.
The following night, the Quakers were able to overcome a late rally to defeat Manhattan, 49-47, and capture the championship.
"When history is charted here, they're going to say, '2003, the University of Pennsylvania was the champion of the Holiday Festival,'" Penn coach Fran Dunphy said. "We feel very proud of that."
The 11,000-plus in attendance could not have asked for two better matchups, as both came down to the wire. While both contests were low in scoring, Penn (6-5) was able to finish off both with two game-winning shots.
In the opening round, senior swingman Jeff Schiffner sunk a fadeaway jumper in the lane with eight-tenths of a second left in the second overtime to give Penn the lead. The Red Storm (4-8) were unable to handle their long inbounds pass, securing the Quakers' 63-61 victory.
"I was really excited for today's game," Schiffner said. "To be able to do it in [Madison Square Garden] is great."
The Chester, N.J., native scored eight of Penn's 10 points in overtime, leading all scorers with 17 points on 6-for-21 shooting. Junior guard Tim Begley added 16 points and seven rebounds.
After St. John's took a five-point lead in the first overtime, Schiffner hit a key three-pointer to tie the score at 58 and eventually force a second extra session.
Penn's captain hit another three to tie the game at 61 in double overtime before his game-winning basket.
After such a hard-fought victory, the Red and Blue barely had time to rest before they were back on the court again against two-time defending champion Manhattan.
This time, Begley hit the game-winning shot for the Quakers, a jumper off a broken play with 42 seconds left in the contest and the shot clock nearly at zero.
The Jaspers (9-3) had several chances to tie the game, but could not convert on four attempts, after which the Quakers' bench exploded as the final buzzer sounded.
Down 13-3 early, the Quakers dominated the last 14 minutes of the first half with a 25-2 run. The Jaspers shot only 20 percent from the field in the first half, and Penn took a 28-15 lead into halftime.
Manhattan answered back in the second half, however, as three straight threes by senior guard Luis Flores capped a 13-0 run that brought the Jaspers within four with 9:40 to go.
Flores' layup with 3:47 to play tied the game at 45, and the two teams would exchange baskets before Begley's game-winning shot.
"Just as Jeff made his jumper last night, Tim made a great shot tonight to get us over the hump," Dunphy said.
The Jaspers, who were plagued with foul trouble for most of the game, attempted only six free throws to Penn's 27.
"We were handcuffed by foul trouble for most of the night," Manhattan coach Bobby Gonzalez said. "I thought we had a tough whistle, I didn't think it was an even whistle."
Begley, who led Penn with 13 points and five boards against Manhattan, was named to the All-Tournament team. He was the only Penn player to score in double figures in both games of the tournament.
Schiffner was named Tournament MVP, despite scoring only four points on 1-for-12 shooting against Manhattan. The guard believed that his buzzer-beater the night before was the main reason he was selected.
"Just looking at my line tonight, it doesn't look very MVP-like to me," Schiffner said after the Manhattan game. "But I'm just happy to be a part of this ... we'll definitely take it."
Freshman forward Mark Zoller also had a career night against Manhattan, totaling 12 points and eight boards in just his third start for the Red and Blue.
With the win, the Quakers prevented Manhattan from becoming the second team in history to win three straight Holiday Festivals. In the last five years, Manhattan has lost only two games at the Garden, both of which to Ivy League teams.
"We'll never schedule an Ivy League team again," Gonzalez said. "They're too smart for me, they're playing chess, I'm playing checkers."
The Quakers captured their second Holiday Festival Championship, nine years after capturing their first in 1994.
In doing so, Penn was able to go above .500 for the first time all season as it prepares to finish the Big 5 schedule and enter Ivy League competition later this month.
"This is a phenomenal tournament when you look back at the history of it," Dunphy said. "We're playing in a phenomenal place, and it's New York City ... we feel very fortunate to be where we are."
