As a result of the steep price they paid to join the NBA, the Pacers were in a dire financial situation. It took a $100,000 contribution from a group of local businesses to keep the franchise going through June 1977. The team announced that unless season-ticket sales reached 8,000 by the end of July 1977, the club would be sold to someone who might take the franchise elsewhere. WTTV, which was the television flagship for Pacers' games at the time, offered to hold a 16.5 hour telethon to keep the team in Indiana. The telethon began on the night of July 3, 1977, and the next day, 10 minutes before the show was set to go off the air, it was announced that team officials had reached the 8,000-ticket goal. In part because of the telethon, the Pacers' average attendance jumped from 7,615 during the 1976–77 season to 10,982 during the 1977–78 season.