American businessman Steven Rales is set to become a minority owner of the Indiana Pacers, with Pacers Sports and Entertainment chairman and owner Herbert Simon announcing the news. The Simon family will still retain control of the team’s management. The deal, pending league approval, will see Rales take on a 20 percent stake in the franchise. Simon emphasized the family’s continued commitment to Indiana, where they have been based since the 1960s. Rales, 72, is known for founding the Danaher Corporation, a global life sciences company that produces medical products. He also has ties to Indiana, having graduated from DePauw University and spearheaded the creation of the film production company Indian Paintbrush.
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