Carl Cook and Gayle Cook Launch Joint Bid to Acquire Indiana Pacers, Promising Investment in Team and Community
Billionaires Carl Cook and Gayle Cook, two of Indiana’s most prominent business figures, have announced a formal joint bid to acquire the Indiana Pacers basketball team. The move marks one of the most high-profile potential ownership changes in the National Basketball Association (NBA) in recent years and could reshape the future of the franchise both on and off the court.
The Cooks, heirs to and operators of the globally recognised Cook Group, built their wealth in the medical device industry and have been long-time advocates for Indiana’s economic growth and cultural identity. Their combined fortune, estimated at well over $16 billion, provides the financial backing for what they describe as a “long-term commitment” to the Pacers’ success and stability.
In a statement released on Friday, the Cooks confirmed that their primary goal in pursuing ownership is to ensure the team remains rooted in Indianapolis. “The Indiana Pacers are more than a basketball team — they are a symbol of our state’s pride, resilience, and unity,” the statement read. “We believe in the power of sport to bring communities together, inspire young people, and drive positive change.”
The proposed bid comes amid growing speculation about the future of the franchise, with current owner Herb Simon, who has led the Pacers since 1983, reportedly considering a sale. Under Simon’s stewardship, the Pacers have enjoyed multiple playoff runs, including an appearance in the 2000 NBA Finals, and have maintained strong ties to the local community. However, at 89 years old, Simon’s long-term ownership plans have been the subject of increasing discussion.
Should the sale proceed, the Cooks’ acquisition would represent a historic moment in Indiana sports. Analysts suggest their business acumen, combined with deep state roots, could bring a renewed era of investment and ambition to the team.
A Vision for Growth and Stability
According to early details shared by representatives of the Cooks, their ownership strategy would prioritise three pillars: competitive excellence, fan engagement, and community development. The pair have pledged significant funding for player recruitment, training facilities, and sports science, aiming to make the Pacers perennial contenders in the Eastern Conference.
They have also outlined plans to enhance the fan experience at Gainbridge Fieldhouse, including technology upgrades, expanded hospitality options, and initiatives designed to make games more accessible to families and younger audiences.
Beyond the court, the Cooks have promised to strengthen the Pacers’ role in social impact initiatives. “We see this as an opportunity to deepen the team’s engagement with educational programmes, youth sports, and local charities,” Carl Cook explained in a recent interview. “Basketball can be a catalyst for real change in our communities.”
The Cook Legacy in Indiana
The Cook family’s story is deeply intertwined with the state of Indiana. Bill and Gayle Cook co-founded the Cook Group in 1963 from their apartment in Bloomington, producing medical devices that would eventually be used in hospitals worldwide. Following Bill Cook’s death in 2011, Carl Cook took over as CEO, expanding the company’s reach while maintaining its headquarters in Bloomington.
Their reputation extends beyond business. The Cooks are noted philanthropists, having funded historic preservation projects, healthcare initiatives, and educational programmes across the state. Supporters of their Pacers bid point to this track record as evidence of their commitment to preserving Indiana’s cultural and sporting heritage.
Community Reaction
News of the bid has been met with cautious optimism among Pacers fans. Many see local ownership as a safeguard against potential relocation threats, a concern that has lingered in smaller NBA markets. “Keeping the Pacers in Indiana is non-negotiable,” said Mark Thompson, a season ticket holder for over 20 years. “If the Cooks can invest in winning and keep the team here, it’s a win for everyone.”
Others have expressed curiosity about how the new ownership might change the team’s approach. The Pacers have traditionally built rosters through shrewd drafting and development rather than splashy free-agent signings. Some analysts suggest that with the Cooks’ resources, Indiana could become a more attractive destination for top-tier talent.
NBA Approval and Next Steps
Any sale of an NBA franchise must receive approval from the league’s Board of Governors. The process typically involves an extensive review of the potential owners’ finances, background, and plans for the team. Industry insiders believe the Cooks’ reputation and resources would make approval highly likely, though the timeline for such a transaction remains unclear.
In the meantime, Herb Simon has not publicly commented on the bid, and no official sale price has been disclosed. Forbes most recently valued the Pacers at approximately $2.1 billion, though competitive bidding could push that figure higher.
A New Era on the Horizon?
If successful, the acquisition would usher in a new chapter for the Indiana Pacers — one backed by deep financial resources, strong local ties, and a stated commitment to both winning basketball and community uplift. For fans in Indianapolis and across Indiana, the bid represents more than a potential change in ownership; it is a declaration of intent to preserve and strengthen one of the state’s most cherished sporting institutions.
As the process unfolds, Pacers supporters will be watching closely, hopeful that the Cooks can deliver on their promises and guide the franchise into a new era of success — all while keeping the heartbeat of the team firmly in Indiana.
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