In 1954, the presidents extended the Ivy Group Agreement to all intercollegiate sports, effective with the 1955–56 basketball season. This is generally reckoned as the formal formation of the Ivy League. As part of the transition, Brown, the only Ivy that had not joined the EIBL, did so for the 1954–55 season. A year later, the Ivy League absorbed the EIBL. The Ivy League claims the EIBL's history as its own. Through the EIBL, it is the oldest basketball conference in Division I.