Pacers Sports & Entertainment, the parent organization of the Indiana Pacers, has acquired the Fort Wayne Mad Ants of the National Basketball Association's Development League, it was announced yesterday.
Terms of the purchase were not disclosed. With the acquisition, the Mad Ants become the 10th D-League team to be wholly owned by an NBA franchise and now all 19 D-League teams are singly-affiliated with NBA franchises.
"We are proud to extend the Pacers brand into Northeast Indiana and excited about continuing the tradition of professional basketball in Fort Wayne," said Pacers Sports & Entertainment owner Herb Simon.
The Mad Ants were previously owned by the Fort Wayne Basketball Group, LLC, which was led by majority investors John Zeglis, Julie Potter, and Jeff Potter. Jeff Potter, former president of the Mad Ants, will continue with the team as its president of business operations.