In the 2004–05 season, the Aces managed to finished fourth in the qualifying round. After eliminating FedEx in the Wild-Card phase, they were swept by San Miguel in the quarters. During the tournament, Arigo and Peek were shipped to Coca-Cola for Jeffrey Cariaso and Reynel Hugnatan. Bong Hawkins also made his return to the Aces, reuniting him with Cariaso, assistant coach Jojo Lastimosa, and Cone. Alaska hired Leon Derricks for the Fiesta Conference. However, his inconsistent game led to his replacement by former Chicago Bull Dickey Simpkins. The addition of Simpkins helped Alaska climbed into third place at the end of the classification round. The Aces faced Red Bull Thunder in the semis. A back injury sustained by Simpkins, after being elbowed in the back by Dorian Peña, prevented him from playing at full strength during the series. Former Alaska Ace, Bryan Gahol, hit the last second shot in Game three to eliminate Alaska from the tournament.