The Indiana Pacers are a professional basketball franchise competing in the NBA (National Basketball Association), based in Indianapolis, Indiana, USA. The team plays its home games at Gainbridge Fieldhouse. The Pacers were founded in 1967 as part of the American Basketball Association (ABA) and joined the NBA in 1976 following the ABA-NBA merger. Although a basketball franchise is not a traditional company, it has a formal ownership structure and executive management overseeing its operations.
Ownership Status of the Indiana Pacers
The Indiana Pacers are privately owned. Ownership is concentrated primarily in the hands of Herbert “Herb” Simon and the Simon family, with a minority stake held by investor Steven Rales. While Herb Simon holds majority control, the franchise’s structure allows for minority investment while maintaining family management oversight.
Major Shareholders
| Shareholder / Entity | Ownership Percentage | Notes |
|---|---|---|
| Herbert Simon & Simon family | ~80% (majority) | Herb Simon has been the majority owner since 1983; the family continues to manage operations. |
| Steven Rales | 20% (minority stake) | Minority investment announced in December 2023, pending final league approval. |
Note: Minor adjustments may occur due to private agreements or internal franchise structures.
About Herbert Simon
Herbert Simon (1916–2001) was an influential American economist, political scientist, and cognitive psychologist. He is best known for his groundbreaking research on decision-making, problem-solving, and administrative behavior. Simon received the Nobel Prize in Economic Sciences in 1978 for his work on the theory of bounded rationality and decision-making processes in organizations.
Herbert Simon Net Worth
Herbert Simon personally accumulated substantial wealth during his lifetime, combining his academic pursuits with successful business ventures. At the time of his passing, his net worth was estimated to be around $3 billion, reflecting his investments and entrepreneurial achievements.
About The Simon Family
The Simon family is prominently known for their contributions to business and philanthropy in the United States. They are especially recognized for their involvement in real estate through the Simon Property Group, one of the world’s largest retail real estate companies. Over generations, the family has maintained a significant presence in American commerce and charitable activities.
The Simon Family Net Worth
The Simon family’s collective wealth is primarily derived from the Simon Property Group, valued at several billion dollars. They are considered one of the wealthiest families in American real estate, with a strong legacy in both business and philanthropy.
Key Shareholder Highlights
Herbert Simon is a prominent real estate magnate and former chairman emeritus of Simon Property Group. He purchased the Pacers in 1983, making him one of the longest-tenured owners in NBA history. The Simon family continues to actively manage and maintain the Pacers’ strategic direction.
Steven Rales, founder of Danaher Corporation, acquired a 20% minority stake in late 2023, representing a significant outside investment while preserving the core Simon ownership.
The Pacers’ ownership has consistently emphasized keeping the team in Indianapolis, highlighting their long-term commitment to the city and franchise.
Recent Developments in Ownership
In December 2023, it was announced that Steven Rales would purchase a 20% stake in the Indiana Pacers, subject to NBA approval. This transaction marked a major minority investment in the franchise. In early 2025, Herb Simon retired from active leadership at Simon Property Group, though he remains actively involved in the Pacers organization. The Simon family continues to guide the franchise’s operations and development, including arena and lease projects.
FAQs
1. Who is the current owner of the Indiana Pacers?
The majority owner is Herbert “Herb” Simon, via the Simon family. Steven Rales holds a 20% minority stake, with operational control remaining with the Simon family.
2. Is the Indiana Pacers franchise publicly traded or privately owned?
The franchise is privately owned. It is not a publicly traded company and is held by a private ownership group.
3. Who founded the Indiana Pacers?
The Pacers were founded in 1967 as part of the ABA and joined the NBA in 1976. The current ownership under Herb Simon began in 1983.
4. Has the ownership changed recently?
Yes. In December 2023, Steven Rales purchased a 20% minority stake, while the Simon family remains the majority owner. Other than this, ownership has remained stable since 1983.
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