TJ Malone, Jack Fracyon, Grant Haus, Alex Ross, and Mac Costin were recognized.
The Nittany Lions jumped out to an early lead and never looked back as they stunned the Fighting Illini.
Newcastle competes in the NBL1 in Australia.
J.T. Marr and Adam Cecere were each recognized as Second Team selections.
Elliott played two years each at Clemson and Michigan State.
The matchup was first reported in April.