Steven Rales Increases Ownership Stake in Indiana Pacers to 20%

The billionaire businessman's $525.5 million investment comes with a potential path to majority control.

Billionaire Steven Rales has purchased an additional 15% stake in the Indiana Pacers, bringing his total ownership to 20%.
The purchase was made at a $3.47 billion valuation, with Rales spending $525.5 million.
The deal reportedly includes a path to majority control for Rales if the Simon family, who have been the Pacers' majority owners since 1983, decide to sell the team.
The Pacers are set to host the 2024 NBA All-Star Weekend, their first time hosting the event since 1985.
Rales, who is worth $7.5 billion according to Forbes, is the co-founder of Danaher and served as its CEO from 1984 to 1990.