The Indiana Pacers bought Fort Wayne's basketball team.
The deal was announced Wednesday, and the Fort Wayne Mad Ants will be a development team for the Pacers.
The Pacers had assigned players to the Mad Ants before the purchase. But now Pacers' President Larry Bird says the deal will give the Indianapolis team more of an opportunity to develop young talent.
"Our players have gotta understand this is not a downgrade, this is to get them minutes playing to get better, and that's what they gotta grasp," Bird says. "And if they don't do that, they might not make it in the NBA."
The terms of the purchase were not announced.
Fort Wayne's Mayor Tom Henry says it's great to have the Pacers invest in Fort Wayne. He hopes having a team affiliated with the National Basketball Association will draw in more people to the city.
The Mad Ants were the last D-League team to affiliate with an NBA parent club.
Brian Levy will be the Mad Ants general manager, but the coaching staff hasn't been announced yet.