Teams/Central Division
Indiana Pacers
Herb Simon, 92, co-founder of mall owner Simon Property Group, has owned the Pacers since 1983. He and his brother paid about $11M; Forbes now values it at $4.55B, and it has had four main ownership groups since 1967.
Every owner since the start
- 1983 to todayMelvin and Herbert Simon, then Herb Simon alone
Bought from Sam Nassi and Frank Mariani for about $11M (Forbes: $10.5M). The NBA approved on 9 May 1983.
- 1979 to 1983Sam Nassi, with Frank Mariani as minority partner
Bought in May 1979; price not found.
- 1975 to 1979Arena Sports, Inc. and successors
Took over by assuming $550,000 of debts and $3.5M of deferred payments, according to the Remember the ABA site. Later steps to 1979 were not found.
- 1967 to 1975Indiana Professional Sports, Inc.
Founded. The same site says the ABA franchise was awarded on 2 February 1967 for $30,000.
Value over time
Show the numbers
| Year | Forbes value |
|---|---|
| 1998 | $152M |
| 1999 | $178M |
| 2000 | $232M |
| 2002 | $231M |
| 2003 | $246M |
| 2004 | $311M |
| 2005 | $324M |
| 2007 | $333M |
| 2008 | $303M |
| 2009 | $281M |
| 2011 | $269M |
| 2012 | $283M |
| 2013 | $383M |
| 2014 | $475M |
| 2015 | $830M |
| 2016 | $840M |
| 2017 | $880M |
| 2018 | $1.18B |
| 2019 | $1.4B |
| 2020 | $1.52B |
| 2021 | $1.67B |
| 2022 | $1.8B |
| 2023 | $2.9B |
| 2024 | $3.6B |
| 2025 | $4.2B |
| 2026 | $4.55B |
| Year | Sale | Team valued at |
|---|---|---|
| 2023 | Steven Rales buys a further 15% at a $3.47B valuation (Forbes lists $525M), taking him to 20% | $3.47B |
Forbes valued the Pacers at $152M in 1998 and $4.55B in 2026, about 29.9 times as much. The biggest one-year jump was $1.1B, from $1.8B in 2022 to $2.9B in 2023, a 61% rise.
How the current owner bought it
- Nassi and Mariani put the team up for sale on 5 April 1983. They said they would hand the franchise back to the league if no buyer appeared. The team had just gone 20-62.
- The Simon brothers announced their purchase in late April 1983. The city had first approached other buyers, who declined.
- Herb bought out Melvin's half shortly before Melvin died in 2009. IBJ reports he paid partly with tens of millions of borrowed dollars that he personally guaranteed.
- Steven Rales first took 5%. A further 15% was announced around 30 November 2023. No ownership change followed in 2025 or 2026.
Partners in the team
| Partner | Stake | Who they are |
|---|---|---|
| Steven Rales | 20% | Co-founder and chairman of Danaher. His 2023 purchase of 15% valued the team at $3.47B; Forbes lists that purchase at $525M. |
| Stephen Simon | undisclosed | Herb's son and the alternate governor, the stand-in for league votes. Herb named him as successor in 2017. |
How the team is run
- Herb Simon is governor, the person who votes for the team at the league. The Simon family keeps management control after the Rales sale.
- A 25-year agreement signed in 2019 keeps the team in Indianapolis through 2043-44. It came with $360M of arena renovations.
- IBJ reports that his will commits the team to Indianapolis. The city has a right of first offer if the team must be sold after his death.
- He leaves basketball decisions to specialists. The team had three basketball chiefs in the 38 years to 2021.
- IBJ reported that the team lost about $44M from 2009 to 2014 and carried roughly $150M of debt. A $160M deal with the city followed in 2014.
Quick answers
Who owns the Indiana Pacers?
Herb Simon, 92, co-founder of mall owner Simon Property Group, has owned the Pacers since 1983.
How much are the Indiana Pacers worth?
Forbes values the Indiana Pacers at $4.55B in its October 2026 list, up 8% from $4.2B a year earlier. That makes them the 23rd most valuable of the 30 teams; in 1998 Forbes put the team at $152M.
How much did the current owner pay for the Pacers?
$11M (Herb Simon, 1983). Forbes now values the team at about 414 times that price.
Who owned the Indiana Pacers before the current owner?
Sam Nassi, with Frank Mariani as minority partner (1979 to 1983). Bought in May 1979; price not found.
Open questions
- The 1983 price conflicts. Local outlets say about $11M, Forbes $10.5M and Indianapolis Monthly $10M.
- What Nassi paid in 1979, and the ownership steps between 1975 and 1979, were not found.
- Lists of the 1967 founders differ by source. One account says they first pooled $6,000.
- The date the NBA approved the Rales stake was not found.