Steven Rales has purchased an additional 15% ownership stake in the Indiana Pacers, bringing his total ownership to 20% pending NBA approval. The purchase is being made at a franchise valuation of $3.47 billion, with Rales' investment totaling $520 million. The Simon family, who has owned the Pacers since 1983, remains in control of the franchise. The agreement with Rales also includes a potential path to control the team if the Simon family chooses to sell in the future.

Why It Matters

This ownership change in the Indiana Pacers could have implications for the future of the team. With Steven Rales' increased ownership stake and potential path to control, it raises questions about the long-term plans of the Simon family and the direction of the franchise.

By the Numbers
  • Steven Rales purchased an additional 15% ownership stake in the Indiana Pacers, bringing his total ownership to 20%.
  • The purchase was made at a franchise valuation of $3.47 billion.
  • Rales' investment in the team totals $520 million.
The Big Picture

This ownership change reflects the continued growth and evolution of the Indiana Pacers as a franchise. It also raises questions about the future plans of the Simon family and potential changes in leadership or ownership.

State of Play
  • Steven Rales has agreed to purchase an additional 15% ownership stake in the Indiana Pacers, pending NBA approval.
  • The Simon family will maintain control of the franchise, with Rales becoming a minority owner.
  • The agreement includes a potential path to control for Rales if the Simon family decides to sell the team.
Bottom Line

With Steven Rales' increased ownership stake and potential path to control, the Indiana Pacers may be entering a new phase under his influence. The future of the team and its leadership could be shaped by this ownership change.