Carlisle steps down as Pacers VP

"I met with both Larry Bird and Donnie Walsh last Friday and expressed my sincere appreciation for the opportunity to come back next year in a front office capacity, but felt it was better for both the Pacers and myself to part ways at this time. The Pacers organization has been a major part of the lives of myself and my family for seven of the last 10 years, and those years have been precious both personally and professionally," said Carlisle.

Indiana finished just 35-47 in 2006-07, good for fourth place in the Central Division. The Pacers failed to qualify for the playoffs for the first time since the 1996-97 campaign. Carlisle was let go in April, but the team offered him to stay in his front office job, which he was given before the start of last season.

In four seasons as the Pacers mentor, Carlisle compiled a 181-147 record and the team made the NBA playoffs in three of his four seasons at the helm.

His best season in Indianapolis was his first. In 2003-04 the Pacers posted a 61-21 record — the best mark in franchise history — and reached the Eastern Conference finals.

Jim O’Brien was hired to replace Carlisle on May 31.