The ABA folds; Pacers make a difficult transition

In the 1974-75 season the Pacers left the Fairgrounds Coliseum for a new home -- Market Square Arena. In their first appearence in the new building they lost to the San Antonio Spurs, 129-121, in double overtime. Their first victory at MSA didn't come until Oct. 23, 1974 against the St. Louis Spirits, 122-107. In what would be their last appearance in the ABA Finals, the Pacers lost to the Colonels, four games to one.

The 1975-76 season was the last of the ABA. The Pacers finished with a 39-45 record the first losing season in seven years. The ABA merged with the National Basketball Association in 1976. To become an NBA team, the Pacers paid a heavy price. In addition to a $3.2 million dollar entry fee, the Pacers and the three other surviving ABA teams entering the league had to compensate the ABA franchises that folded. The new NBA teams also were barred from sharing in TV revenues for four years.

The Pacers' financial situation reached a crisis in 1977. It took a $100,000 contribution from a group of local businesses to keep the franchise going through June.

The team announced that unless season-ticket sales reached 8,000, the club would be sold to someone who might take the franchise elsewhere, meaning Market Square Arena would lose its main tenant.