The Indiana Fever is owned by Pacers Sports & Entertainment, the same organization that runs the Indiana Pacers of the NBA.
The controlling figure behind that organization is Herb Simon, the billionaire mall developer who also built Simon Property Group into a national real estate giant.
Simon has owned the Pacers since 1983 and brought the Fever into his sports portfolio when the WNBA franchise joined the league in 2000.
For years the Fever was a modest piece of that portfolio. That has changed in a way almost nobody predicted.
Since drafting Caitlin Clark in 2024, the Fever franchise value has climbed from roughly 90 million dollars to over half a billion dollars, an increase that has stunned even seasoned sports finance analysts. Here is exactly how that happened, who benefits, and what it means for the future of the team.
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Who Owns The Indiana Fever
The Indiana Fever is owned and operated by Pacers Sports & Entertainment, a private company controlled by Herb Simon. The organization also owns the Indiana Pacers of the NBA and manages Gainbridge Fieldhouse in downtown Indianapolis.
Simon, now 91 years old, purchased the Pacers in 1983 along with his brother Melvin Simon. When the WNBA expanded into Indiana in 2000, the Simon family added the Fever to its holdings, folding it into the same front office and arena operation as the Pacers.
Until his death in March 2026, Herb’s nephew David Simon, longtime chief executive of Simon Property Group, also held an ownership stake alongside his uncle. Herb Simon today remains the sole publicly named owner of both franchises, according to Wikipedia.
Quick Facts About Indiana Fever Ownership
| Team | Indiana Fever |
| Current Owner | Herb Simon |
| Parent Company | Pacers Sports & Entertainment |
| Valuation | Approximately 560 million dollars in 2026 |
| Founded | 2000 |
| League | WNBA |
| Arena | Gainbridge Fieldhouse, Indianapolis |
The Pacers Sports And Entertainment Ownership Structure
The Fever sits inside a single organization that also runs the Pacers and the arena they share. Here is how that structure breaks down today.
Chairman and Controlling Owner
NBA Franchise
WNBA Franchise
Home Arena Operations
A Timeline Of Indiana Fever Ownership And The Caitlin Clark Effect
Herb Simon and his brother Melvin purchase the Indiana Pacers, forming the foundation of the current sports organization.
The Simon organization adds the Fever to its portfolio as the WNBA expands into Indianapolis.
The Fever selects Clark, and the franchise valuation jumps to roughly 90 million dollars almost overnight.
Forbes lists the Fever among the most valuable women’s sports teams in the world, trailing only the New York Liberty.
Sportico and CNBC rank the Fever as the third most valuable franchise in the WNBA, behind only Golden State and New York.
How Much Has Caitlin Clark Increased The Indiana Fever Valuation
In June 2024, just two months after Clark’s arrival, the Fever carried an estimated value of 90 million dollars. By 2025 that figure had jumped to 370 million dollars, and by 2026 independent valuations from Sportico and CNBC placed the team at approximately 560 million dollars.
That amounts to roughly a sixfold increase in about two years, a pace almost unheard of in professional sports. Ticket sales sold out across Clark’s rookie season, merchandise sales soared, and national television viewership for Fever games climbed dramatically, according to reporting from CNBC.
League wide, average WNBA franchise values climbed sharply between 2024 and 2026, but the Fever’s growth outpaced nearly every other team because of the direct attention Clark brought to Indianapolis.
Who Is Herb Simon And What Is Herb Simons Net Worth
Herb Simon was born in October 1934 in Brooklyn, New York, and later moved to Indianapolis, where he and his brother Melvin built Simon Property Group into the largest mall operator in the United States.
Forbes places Simon’s net worth in the billions, with recent estimates around 4.7 billion dollars, most of it tied to his stake in Simon Property Group stock accumulated over more than five decades in commercial real estate.
Simon was inducted into the Naismith Memorial Basketball Hall of Fame in 2024 as a contributor, recognizing his four decades of NBA and WNBA team ownership in Indianapolis. His full profile and current net worth estimate are tracked by Forbes.
Is Herb Simon A Good Owner: Is The Indiana Fever Ownership Really Worth It
Supporters of Simon’s ownership point to stability. Unlike several WNBA franchises that changed hands or relocated, the Fever has stayed under one family since it entered the league, giving the front office continuity that helped it retain the top pick in 2024.
Simon also invested in renovations to Gainbridge Fieldhouse and committed resources to a dedicated practice facility, moves that helped Indianapolis compete for free agents and staff even before Clark arrived.
Critics note that for most of the 2000s and 2010s the Fever operated with a comparatively small budget and limited marketing investment relative to larger market teams, and the franchise only became a financial priority once Clark’s popularity made it an obvious business opportunity.
Simon’s advanced age, 91 as of 2026, has also raised questions among fans about long term planning and who will eventually take over the team, questions that intensified after a family lawsuit became public in the summer of 2026.
What Is The Simon Family Lawsuit And Does It Affect The Fever
In July 2026, Herb Simon filed a lawsuit against relatives of his late nephew David Simon, the longtime chief executive of Simon Property Group who died in March 2026. The suit alleges that David and his son restructured a family entity holding roughly 1.5 billion dollars in Simon Property Group shares without Herb’s consent.
The dispute centers on shopping mall real estate holdings, not on the Pacers or the Fever directly, and there is no public indication that team ownership itself is contested. Still, the lawsuit highlights the complexity of succession inside the wider Simon family empire as Herb enters his tenth decade.
For fans wondering whether the courtroom fight could eventually touch the Fever, most reporting suggests the team and arena operations remain a separate entity from the real estate trust at the center of the case.
Where Do The Indiana Fever Play Home Games
The Fever plays its home games at Gainbridge Fieldhouse in downtown Indianapolis, the same arena used by the Pacers. The venue seats over seventeen thousand fans and has hosted sold out crowds throughout the Clark era, a shift from years when Fever games drew a fraction of that number.
Pacers Sports & Entertainment also operates a separate practice facility for the Fever, an investment that helped the team attract free agents even before its recent surge in popularity and revenue.
Are The Indiana Fever For Sale In 2026
There is no indication that the Indiana Fever is for sale in 2026. Herb Simon has given no public signal that he intends to sell either the Pacers or the Fever, and the WNBA has not listed Indiana among any franchises exploring new ownership.
Given the team’s valuation growth, from 90 million dollars in 2024 to roughly 560 million dollars in 2026, a sale at this point would likely require a record breaking bid, and Simon has instead focused on succession planning within the family rather than a sale to outside investors.
Frequently Asked Questions About Indiana Fever Ownership
Who Is The Owner Of The Indiana Fever
Herb Simon owns the Indiana Fever through Pacers Sports & Entertainment, the same company that owns the Indiana Pacers of the NBA.
What Is Herb Simons Net Worth
Forbes estimates Herb Simon’s net worth at approximately 4.7 billion dollars, built primarily through his ownership stake in Simon Property Group, the shopping mall company he co founded.
Did Caitlin Clark Buy A Stake In The Indiana Fever
No. Caitlin Clark is a player under contract with the Fever, not an owner. Her presence on the roster is credited with driving the team’s valuation from 90 million dollars in 2024 to about 560 million dollars in 2026, but she holds no ownership stake in the franchise.
Who Will Own The Indiana Fever After Herb Simon
No successor has been publicly named. Herb Simon, 91 years old in 2026, has not announced a formal transition plan for the Fever or the Pacers, and a separate family lawsuit over unrelated real estate holdings has drawn fresh attention to succession questions within the wider Simon family.
For related ownership breakdowns, see our guides to who owns the NFL and Notre Dame Fighting Irish baseball ownership.
I am Jack Neel, a mechanical engineer, researcher, and writer. I created this website to share my knowledge about different brands and products with you. I research the manufacturers behind the brands and provide you with the information you need to make smart buying decisions.