Larry Bird leaving Pacers

It's official: Larry Bird is not returning to the Indiana Pacers.

The announcement was made this morning during a news conference at Bankers Life Fieldhouse.

Bird, 55, had served as the Pacers president of basketball operations since 2003. He was named NBA Executive of the Year this season after the Pacers finished with the fifth-best record in the NBA and advanced to the Eastern Conference semifinals.

Although Bird strongly hinted three weeks ago that he intended to return for at least one more season, published reports in an Indianapolis newspaper on Tuesday indicated he had changed his mind and would resign today.

Bird was also the Pacers' coach from 1997 to 2000. The NBA Coach of the Year in 2008, he led the Pacers to the NBA Finals in 2000.