The Indiana Pacers are primarily owned by Herb Simon and his family. Herb Simon, along with his late brother Mel Simon, purchased the Pacers in 1983. Herb Simon remains the majority owner and chairman of Pacers Sports & Entertainment, the parent company of the Pacers. His family continues to control the management of the franchise, with his son Steve Simon serving as the alternate governor and other family members involved in the organization
. Additionally, minority ownership includes Steven Rales, who owns a 20% stake in the team following an equity sale agreement with Herb Simon, pending NBA approval. Despite this minority stake, control remains with the Simon family
. Herb Simon is recognized as the longest-tenured owner in the NBA and was inducted into the Naismith Memorial Basketball Hall of Fame in 2024 for his contributions to the sport
