blind trust that left teams unable to meet payroll or pay bills. The combined-ownership plan was unsuccessful and, by 2001, the CBA had declared bankruptcy and ceased operations; it folded on February 8, 2001 without managing to complete the 2000–01 season. Before the 2000–01 season, the CBA signed a television contract with BET to broadcast up to 18 games, including the CBA All-Star Game, although the CBA folded midway through the season. Several of its teams briefly joined the now-defunct International Basketball League. Below is a timeline of Thomas's ownership of the CBA: August 3, 1999: Former NBA star Isiah Thomas purchases the CBA (the entire league including all the teams and its marketing entity, CBA Properties) for $10 million. He says that the league will now operate as a single-owner entity, and the CBA will continue to be the official developmental league of the NBA. October 7, 1999: Sale of the CBA to Thomas is finalized. Thomas pays $5 million up front, agreeing to make four additional payments to the CBA's former team owners for the remainder of the debt. October 24, 1999: He announces salary cuts in the CBA. The average salary of $1,500 per week will be reduced to $1,100, with rookies getting $800. Thomas' reasoning is that by reducing the number of veterans in the league, there will be more young players available for NBA teams. March 2000: The NBA offers Thomas $11 million plus a percentage of the profits for the CBA. Thomas chooses not to sell. June 28, 2000: Thomas is offered the head coaching job of the NBA's Indiana Pacers. Since NBA rules forbid a coach from owning his own league (as it would be a conflict of interest), Thomas is obliged to sell the CBA. On this day, Thomas signs a letter of intent to sell the CBA to the NBA Players' Association. Summer 2000: After 20 years of using the CBA as its developmental league, the NBA announces it will form its own minor-league feeder system, creating the National Basketball Development League (later the NBA Development League). The CBA will no longer be the NBA's official developmental league following the end of the 2001 season. October 2, 2000: Thomas places the league into a blind trust and becomes head coach of the Pacers. February 8, 2001: The CBA suspends play midway through the 2000–2001 season. The blind trust that had hoped