It all makes sense now. Here I was always thinking that the Indiana Pacers donned the jerseys pictured above because they thought they were pimp. Not knowing that they just couldn’t afford anything better. Boy, don’t I feel stupid. And a little relieved at the same time.
But enough of how I feel, let’s cut to the chase. According to Pacers’ co-owner Herb Simon, the franchise has lost money nine of the past ten years. And that’s not the worst part. The coup de gras. is that the team has lost a total of $200 million since 1983, the year that Simon bought the team.
There comes a point where you have to say, ‘Maybe I can’t do this anymore,’ Simon, 74, said in an hour long meeting with executives and reporters at The Indianapolis Star. Certainly my family, if I’m not here, is not going to be able to do it. So, let’s straighten this thing out. Maybe we can’t. But let us try. Sure, I would have picked a better time than the world’s greatest economic crisis. The timing sucks, but that’s what it is.
I’m really trying to understand how a NBA franchise can actually lose this much money. We’re not talking about a perennial bottom feeder franchise here. This team was one of the best teams in the league during the 90′s, yet they’re in the hole $200 million? I think someone needs to peruse the list of Pacers’ executives to make sure Bernie Madoff isn’t listed. That would be the only logical explanation for this.
Pacers’ future is up in the air (Indy Star)