Pacers to sell 15% ownership stake in franchise to billionaire Steven Rales
Rales, a businessman and film producer, will increase his stake in the team from 5% to 20% with the acquisition, which is pending approval of the NBA.
There have been 117 salmonella cases in people across 34 U.S. states, according to the CDC. Two people have died, and at least 61 people have been hospitalized.
It is the strongest proposed overhaul of lead rules in more than three decades, and will cost billions of dollars.
Additional labor costs from the agreement will total $8.8 billion by the end of the contract, translating to about $900 per vehicle by 2028, Ford Chief Financial Officer John Lawler said in a company release.