That team changed their name to the Lancaster Lightning, then the franchise moved to Baltimore for a year before relocating in Rockford.

They were the runners-up in the 2001-02 and 2004-05 CBA seasons, losing a winner-take-all championship game to the Dakota Wizards 116–109 in 2002, and a best-of-5 series to the Sioux Falls Skyforce 3–1 in 2005.

An attempt was made to constitute a new local ownership group, but it was unsuccessful, and the team folded.

The Lightning's main rival was the Quad City Thunder.

Ralph Sampson also would play for the Rockford Lightning in the Continental Basketball Association during the 1994–95 season before ultimately retiring for good.