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The 1948–49 BAA season was the Jets' 1st and only season as the Jets in the NBA/BAA, as well as their eighth professional season including their time spent in the NBL and 14th and final season as a franchise after previously going by the Indianapolis Kautskys, named under original team owner Frank Kautsky's local grocery store. After the season ended and they participated in the 1949 BAA draft, the NBL would merge with the BAA to form the NBA. However, before the merger officially happened, the Jets' owner, Paul A. Walk, wanted to sell the team off to the owners of the rivaling NBL's final champions ever, the Anderson (Duffey) Packers due to the Jets going into receivership with $20,000 in debt and rookie George Glamack seeking $50,000 in damages from the Jets franchise, but the BAA's commissioner, Maurice Podoloff, rejected the sale of the team to a rivaling league's team owner, which subsequently led to them folding operations soon afterward on June 20 that year. As a result, the Jets ceased operations and were subsequently replaced by the Indianapolis Olympians, who were originally meant to be a part of the NBL before the merger occurred.
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