This week the 2010 class of inductees to the Naismith Memorial Basketball Hall of Fame were announced. In their first year of eligibility, Scottie Pippen and Karl Malone were both announced as inductees along with the 1992 Men's U.S. Olympic Basketball team, dubbed "The Dream Team," which both Malone and Pippen were on. The induction ceremony will be held on August 13th.

In addition to Malone and Pippen, Los Angeles Lakers owner Jerry Buss, high school coaching legend Bob Hurley Sr. and WNBA star Cynthia Cooper will also be inducted.

NBA vets Dennis Johnson and Gus Johnson and Brazilian baller Maciel "Ubiratan" Pereira, who all died, will also be inducted posthumously.

The 1960 Men's U.S. Olympic Basketball team, which included Jerry West and Oscar Robertson, will also be inducted. Both Olympic teams won the gold medal. Last year, Pippen and Malone's teammates Michael Jordan and John Stockton were inducted in to the Hall of Fame.