After the team's unequaled high school successes, their coach Ernest "Griz" Wagner decided to move up to Franklin College and took most of the original Franklin Wonder Five members with him.  The Wonder Five put fifty wins in a row over a period of two years, challenging and demolishing bigger, stronger teams.  

The team was hailed in the papers as the "best collegiate team in Hoosierdom, the, basketball center of the world".  The Franklin Wonder Five took home the Indiana State Collegiate Champion trophy for the 1923 & 1924, as well as the National Collegiate Championship award in 1923, during their undefeated season.

The Franklin Wonder Five team during their high school championship days were made up of now immortalized players Burl Friddle, Ralph Hicks, Paul White, Robert Vandiver, Sima Comer, Johnny Gant, Harold Borden, Pete Keeling, and the team's coach Ernest "Griz" Wagner.  The team adopted the nickname the "Grizzly Cubs" to permanently honor their wonder-coach.  The mascot is still used by Franklin Community High School and Franklin College.