Sportico: Steven Rales purchases 15% of Pacers, raises stakes to 20% total

Post #1 » by **Scoot McGroot** » Thu Nov 30, 2023 10:16 pm

Post #2 » by **Scoot McGroot** » Thu Nov 30, 2023 10:51 pm

Rales graduated undergrad from Depauw.

Wizop · Post #3 » by **Wizop** » Fri Dec 1, 2023 12:16 am

Rales is a movie guy. Back in the 70s people were saying the Hollywood guys made money in movies and lost it in real estate while the Simons made money in real estate and lost it in movies.

Post #4 » by **Scoot McGroot** » Fri Dec 1, 2023 2:40 pm

Read on Twitter

?s=61&t=4P34sFh22Otrr6CybjJQ_g

The Jerry Buss/Lakers connection was not one I knew of.

jowglenn · Post #5 » by **jowglenn** » Fri Dec 1, 2023 5:27 pm

LOL at that guys tweet; first off it’s 40 years, not 50. Second, 10.5 million in 83 is equivalent to 32 million in today’s dollars (inflation!)

So it’s more accurate to say that the value is 100x, not 300x

Post #6 » by **Grang33r** » Sun Dec 3, 2023 4:26 am

Honest question, whats this mean for basketball operations? Does he get anything with the 20% like any controlling power? More say into the daily basketball operations? Or do we not know yet?

Post #7 » by **Scoot McGroot** » Sun Dec 3, 2023 2:53 pm

Grang33r wrote:Honest question, whats this mean for basketball operations? Does he get anything with the 20% like any controlling power? More say into the daily basketball operations? Or do we not know yet?

Simon still has the controlling interest, and is the lead governor, so has the final say on all basketball and non basketball operations.

As for daily input? That would depend solely on their purchase/ownership agreements, which are going to be 100% confidential. I would bet that Rales probably also purchased some right of first refusal if the Simon family ever sells any more stakes, though.

Wizop · Post #8 » by **Wizop** » Sun Dec 3, 2023 4:14 pm

Grang33r wrote:Honest question, whats this mean for basketball operations? Does he get anything with the 20% like any controlling power? More say into the daily basketball operations? Or do we not know yet?

Legally 20% gives him no more power than he had with 5%. Practically the Simons have let the basketball people do their jobs and I don't expect that to change. Not paying tax is the only top down decision I'm aware of.

Post #9 » by **Grang33r** » Mon Dec 4, 2023 8:01 am

Scoot McGroot wrote:
Grang33r wrote:Honest question, whats this mean for basketball operations? Does he get anything with the 20% like any controlling power? More say into the daily basketball operations? Or do we not know yet?

Simon still has the controlling interest, and is the lead governor, so has the final say on all basketball and non basketball operations.

As for daily input? That would depend solely on their purchase/ownership agreements, which are going to be 100% confidential. I would bet that Rales probably also purchased some right of first refusal if the Simon family ever sells any more stakes, though.

Gotcha. That makes sense.