http://www.indystar.com/apps/pbcs.dll/a ... 8803300312
Pacers Sold to Foreign Investment Group
Posted: April 1, 2008
Herb Simon announced today via press release that the Pacers have been sold to an investment group consisting of European league players and coaches.
"We regret having to make this move," Simon said. "However, it has become clear that the city of Indianapolis can no longer sustain interest in the franchise."
"We stood by the franchise as long as we could," added
David Simon, CEO of Simon Property Group, when contacted by phone early this morning.
"However, the fiscal health of our holdings finally needed to take precedence, particularly in this difficult time for real estate."
NBA commissioner
David Stern, also contacted by phone, stated, "
We've long felt that the franchise deserved to be in better circumstances than those available in Indiana. We hope that the group will choose to place the team as our first entry into the European market."
While members of the investment group have not yet been disclosed, the primary general partner is believed to be