Billionaire Steven Rales Buys 15% Ownership Stake In Indiana Pacers
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Billionaire Steven Rales Buys 15% Ownership Stake In Indiana Pacers

Evan Sidery
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Opinions expressed by Forbes Contributors are their own.
I write about the NBA and other sports topics for Forbes Sports.
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Steven Rales, a billionaire businessman and film director, has bought an additional ownership stake in the Indiana Pacers, per Sportico.

Forbes’ evaluation on Rales shows a real-time net worth of $7.5 billion.

Rales, who already owned a 5% share in the franchise, purchased another 15% at a $3.47 billion evaluation. In total, $525.5 million was spent by Rales to now possess 20% of the franchise.

For the Pacers, Rales is another voice to add alongside the longstanding ownership of the Simon family, who have controlled the organization since they purchased in 1983 for only $11 million.

Indianapolis will soon be hosting the 2024 NBA All-Star Weekend as well. It will be the first time the Pacers have hosted the event since 1985.

With Rales now on board with a bigger ownership stake, the long-term picture of the Pacers looks even brighter than it already was.

Evan Sidery
Evan Sidery
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