According to Mike Wells of the Indy Star, Larry Bird will not be returning as President of the Indiana Pacers.
It's been speculated for months now that Bird wouldn't be returning to the Pacers after the 2011-12 campaign. Now this seems to be the real deal. Coincidentally, former Pacers CEO Donnie Walsh is expected to return to the Pacers in some capacity.
Bird won Executive of the Year this season as he built a roster that is on the rise. The Pacers returned to the postseason in 2011... and they went to the second round last spring before Indy succumbed to the eventual NBA champions, the Miami Heat.
The Pacers will still be in good hands. Kevin Pritchard is now the General Manager of the Pacers and he did a great job in Portland. If Walsh does return, he'll be working with Pritchard so Bird is leaving the Pacers with some capable people.
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Larry Bird is the only individual ever to win the Most Valuable Player award, Coach of the Year, and Executive of the Year in the NBA.