Gary Steelheads Decline to Participate in New Continental Basketball Association (CBA) - Will Sit Out 2006-2007 Season

MLN Newswire - GARY, Indiana (July 21, 2006) – The Gary Steelheads announced today that they are declining participation in the Continental Basketball Association during the upcoming 2006-2007 season.

“The team wishes the CBA luck in the new direction it has taken,” said Jewell Harris Sr., Owner/Chief Executive Officer. “However, the Steelheads are going to take a year off to continue to pursue investors who are committed to taking the organization to the next level. Further, Harris Sr. has indicated that he is resigning from his position as Chief Executive Officer of the team. Team attorney, Jewell Harris, Jr. will take the lead in coordinating a sale of the franchise.

“We would like to thank our loyal fans and sponsors for all of their support. We would not have been able to bring professional basketball to the City of Gary without them. The team is in constant communication with Mayor Rudolph Clay concerning the future of professional basketball in the City of Gary. Over the next several months, we will continue to work closely with the city administration to seek input into our ongoing efforts to keep professional basketball in the City of Gary,” Harris said.

During the 2005-2006 season, the Steelheads captured the imagination of basketball fans throughout Northwest Indiana by posting the league's best quarter point average during the regular season. The franchise turnaround, one of the most prominent in CBA history, earned head coach Jaren Jackson the honor of “CBA Coach of the Year.”

Despite the loss of CBA All-Star guard Jimmie “Snap” Hunter, the Steelheads advanced through the playoffs to the CBA Finals, where they fell to the Yakama Sun Kings. The franchise set numerous team and individual records during its most successful season to date.