Unseld was selected as the second overall pick by the Baltimore Bullets in the 1968 NBA draft. He was also selected by his hometown Kentucky Colonels of the American Basketball Association (ABA) in the 1968 ABA draft. Unseld was offered contracts by both teams but opted to sign with the Bullets of the more successful NBA despite them allegedly offering less money. After signing Unseld, Bullets owner Earl Foreman proclaimed that "this contract represents the most attractive and rewarding contract that has or will be signed by any player in the NBA this year."