A system for monitoring athletic performance, comprising: a sensor system carried in part by a first player and in part by a ball to be used in the athletic performance, wherein the sensor system monitors: (a) a first parameter correlated to the first player's movement speed during a first time period; (b) a second parameter correlated to a determination of whether the first player is located within a predetermined distance from the ball during the first time period, and (c) a third parameter correlated to the first player's ball transfer force or power during the first time period and a determination of ball contact during the first time period; and a data storage system for storing data collected by the sensor system relating to the first, and second, and third parameters; a processor system for receiving and processing data stored in the data storage system, wherein the processor system is configured to calculate an amount of time that the first player possesses the ball during the first time period, using, at least in part, data relating to the second and third parameters, wherein the calculation comprises: utilizing the third parameter in a determination that the first player has made an initial contact with the ball and in response, determining that the first player has initiated a first possession of the ball; after the initial contact, utilizing the second parameter to determine that the first player remains in the possession of the ball; and determining that the first possession of the first player has ended based upon at least one of: the first player is not within the predetermined distance; a second player has made contact with the ball. a sensor system carried in part by a first player and in part by a ball to be used in the athletic performance, wherein the sensor system monitors: (a) a first parameter correlated to the first player's movement speed during a first time period; (b) a second parameter correlated to a determination of whether the first player is located within a predetermined distance from the ball during the first time period, and (c) a third parameter correlated to the first player's ball transfer force or power during the first time period and a determination of ball contact during the first time period; and (a) a first parameter correlated to the first player's movement speed during a first time period; (b) a second parameter correlated to a determination of whether the first player is located within a predetermined distance from the ball during the first time period, and (c) a third parameter correlated to the first player's ball transfer force or power during the first time period and a determination of ball contact during the first time period; and a data storage system for storing data collected by the sensor system relating to the first, and second, and third parameters; a processor system for receiving and processing data stored in the data storage system, wherein the processor system is configured to calculate an amount of time that the first player possesses the ball during the first time period, using, at least in part, data relating to the second and third parameters, wherein the calculation comprises: utilizing the third parameter in a determination that the first player has made an initial contact with the ball and in response, determining that the first player has initiated a first possession of the ball; after the initial contact, utilizing the second parameter to determine that the first player remains in the possession of the ball; and determining that the first possession of the first player has ended based upon at least one of: the first player is not within the predetermined distance; a second player has made contact with the ball. utilizing the third parameter in a determination that the first player has made an initial contact with the ball and in response, determining that the first player has initiated a first possession of the ball; after the initial contact, utilizing the second parameter to determine that the first player remains in the possession of the ball; and determining that the first possession of the first player has ended based upon at least one of: the first player is not within the predetermined distance; a second player has made contact with the ball.