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Less than a year after purchasing the Continental Basketball Association, legendary sports icon-turned-businessman, Isiah Thomas, is returning to the hardwood of the NBA. But this time, he’ll be calling the shots from the sidelines as the head coach of the Indiana Pacers, who are currently the Eastern Conference Champions. Thomas was named to the role in late July, following much speculation throughout the early summer.
Thomas, former chairman and CEO of the CBA, had to comply with a directive from the NBA to sell the CBA before taking the helm at the Pacers franchise. Thomas signed a letter of intent to sell the league to the National Basketball Players Association in late June. Per club policy, terms of the prospective deal were not disclosed.
Since Thomas purchased the nine-team CBA league for $10 million in October 1999 (“It’s a Whole New League,” November 1999), he has streamlined the league’s management structure and expanded the league to include 10 teams. Thomas’ business profile also lists him as the founder and principal shareholder of diversified holding company Isiah Investments L.L.C. He is also founder and creator of Isiah International Inc., iSIAH.com, and Enlighten Sports Inc.