They were based in Gary, Indiana, United States, and played their home games at the Genesis Convention Center.

During that time former owner Jewell Harris Sr. was indicted on federal extortion and other charges unrelated to the team.

On October 24, the new ownership, Showtime Sports and Entertainment, LLC (headlined by Jewell Harris Jr.), announced they would be moving to the USBL for 2007.

[1] After one season in the USBL, which included multiple teams folding, the Steelheads joined the IBL (unrelated to the former IBL) for the 2008 season.

The Steelheads sat out the 2009 season and eventually ceased operations.