Only the final standings are known, but the season was divided into two halves. Coles American Giants won the first half, and the Nashville Elite Giants won the second half. The two teams faced off at the end of the season in a 7-game playoff series to determine the league champion.
TEAMWLPctGB
x 1932 Coles American Giants LogoColes   3412.739-
1932 Monroe Monarchs LogoMonroe 3414.7081.0
1932 Birmingham Black Barons LogoBirmingham 109.52610.5
x 1932 Nashville Elite Giants LogoElite Giants 2423.51110.5
1932 Montgomery Grey Sox LogoMontgomery 2325.47912.0
1932 Indianapolis ABCs LogoIndianapolis 1821.46212.5
1932 Memphis Red Sox LogoMemphis 2327.46013.0
1932 Louisville Black Caps LogoLouisville  1227.30818.5
1932 Little Rock Grays LogoLittle Rock 512.29414.5
1932 Atlanta Black Crackers LogoAtlanta 617.26116.5
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