Two billionaires. One franchise. And nobody told Caitlin Clark.
In December 2023, Herb Simon sold 15% of the Indiana Pacers to a billionaire named Steven Rales for $525 million. Rales already owned 5%. The deal took him to 20%.
Buried in the contract — first reported by Sportico — was a single line: Rales gets first look if the Simon family ever chooses to sell.
That was 16 months before Caitlin Clark drafted into Indianapolis. The Fever was worth $90 million then. It's worth $560 million now. A 522% jump in two seasons. Third most valuable team in the league.
Every offseason decision Indiana made this winter — Boston's $6.3M extension, Mitchell's $1.4M supermax, White's hire from Connecticut, Cunningham's return — got co-signed by an owner who's been positioned to take over since before Caitlin Clark wore an Indiana jersey.
Steve Simon is supposed to inherit the franchise. Steven Rales has the contract that says otherwise.
Saturday's the opener. The owners are not watching the same game.
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In December 2023, Herb Simon sold 15% of the Indiana Pacers to a billionaire most NBA fans have never heard of.
