Gary was awarded a franchise in the CBA in 2000. The league folded so the Steelheads joined the IBL. Former CBA franchise owners purchased the CBA name from the bankruptcy court. The IBL and IBA combined to reform the CBA in 2001. After playing five seasons in the CBA the team announced on July 21, 2006, that they would be sitting out the 2006–07 CBA season.
