The three-year agreement is designed to help the franchise shoulder the costs of operating Conseco Fieldhouse. One dissenting
voice called the team and city back to the negotiating table for a longer-term deal.
The $33.5 million the Capital Improvement Board is providing the Indiana Pacers is merely a Band-Aid that will do little to
solve serious short-term and long-term issues facing the team.
Perhaps it’s time for Pacers owner Herb Simon—a billionaire
like his late brother—to burnish his credentials as a philanthropist who makes the city a better place to live and work.
Moving the Indiana Pacers from Conseco Fieldhouse to another city would impose serious financial hardship on the franchise,
according to one interpretation of the team’s 10-year-old deal with the city.
In a move not necessarily stranger than fiction, Herb Simon has bought Kirkus Reviews, the venerable journal of prepublication
book reviews. The owner of the Indiana Pacers co-owns an independent bookstore in California and is described as a voracious
reader.
Indianapolis Colts owner Jim Irsay has joined the ranks of the richest Americans, earning a spot on this year’s Forbes
400 list of the nation’s wealthiest people.
The passing of Mel Simon adds more uncertainty to the Indiana Pacers’ future in Indianapolis.
In the wake of Mel Simon’s death, Indiana Pacers’ future is in the firm grip of younger brother Herb, who now has sole ownership
of the team.
Most of us were taught to give thanks to those who do well and make our lives better. Some of us would like to give our hearty
thanks to Mel and Herb Simon and their families for all they’ve done in our community and statewide.
The Simon family’s role in building the city has come at a steep price for taxpayers. Simon and
its business interests in the last 20 years have collected local government incentives
worth more than $400 million, an IBJ tally of those deals shows.
The most important piece of leverage Mayor Ballard has in negotiating with the Pacers is being willing to let them go.
Herb Simon is taking a new hands-on approach
with the Indiana Pacers, which he co-owns with his brother, Melvin. In response to a string of losing seasons and off-court
mishaps involving players, Simon is transforming himself from a behind-the-scenes owner into a visible figure intent on reconnecting
the franchise with the community that once adored it.
Recently announced changes to the Indiana Pacers’ front office leave questions about the team’s long-term ownership unanswered.
While Larry Bird, Pacers director of basketball operations, is set to take over for CEO Donnie Walsh at season’s end, there
is no indication what succession strategy, if any, exists for replacing team owners Mel Simon, 81, and Herb Simon, 73.
A push from Indiana Pacers co-owner Herb Simon and seven other National Basketball Association owners is spurring league officials
to adopt broader revenue-sharing measures. But those measures might not be enough to pull the Pacers out of the red.
Indiana Pacers co-owner Herb Simon has thrown his support behind an effort to pressure National Basketball Association Commissioner
David Stern to implement more aggressive revenue sharing among NBA franchises.
