Harvard basketball celebrated itself last night in the team's second annual banquet at Faneuil Hall, with cagers past and present heralding the start of a new era.

Outgoing captain Bob Allen, the only senior on the team, announced next year's floor leaders at the close of the festivities. As expected, Mark Harris and Tom Mannix, the team's only juniors, will share the title of captain next year.

Coach Frank McLaughlin, alternately roasted and lauded at the ceremonies, told the crowd of more than 100 about the Corporation's approval of the $2.3 million Briggs Cage renovation, which will give Harvard basketball a new 3000-seat arena in April 1981.

Sophomore Don Fleming, the team's top scorer and a first-team all-Ivy selection, collected the team's most valuable player award. Assistant coach Billy Raynor also presented Fleming with the awards for best rebounder and most total points.

In a surprise to some but a disappointment to none, Tom Clarke, the gutsy sophomore who worked all year as the team's eighth man, picked up the "Hustle Award," presented by assistant coach Terry O'Connor.

Hamilton Fish '10 did not speak this year in unfortunate contrast to his memorable appearance last year, but an award in his name for "most improved player" went to Mannix, who averaged 12.9 points a game and led the team in assists.

Don Criqui, the NBC broadcaster, was the guest speaker and donated his honorarium to help foot the bill for the cagers' trip to the People's Republic of China in June.

Harvard will be the first college basketball team ever to visit the PRC. The Friends of Harvard Basketball, led by Ray Lavietes and Tom Stemberg, have raised all but about $5000 of the $40,000 cost of the trip, and both men put in appeals for additional cash at last night's dinner.