Like many a Midwestern son, Kevin Bower ’80 has basketball in his blood. The former star forward for Bentley is now on the senior management team of his hometown NBA franchise: the Indiana Pacers. His love of the game and dedication to the local community make the current post a dream job.
“Basketball has always been an important part of my life,” says Bower, whose success on the high school court netted him a scholarship at Bentley. He credits his run as a Falcon for “teaching me how to win and lose gracefully, sacrifice for the good of the team, and manage my time.”
The traits play well in his work as senior vice president and CFO of Pacers Sports and Entertainment, which also oversees the WNBA team Indiana Fever and the Conseco Fieldhouse.
Bouncing Back
The starting line for Bower’s professional path wasn’t sports but accounting – his college major. After five years as a CPA at Denver-based Schneider and Schuster, Bower returned to Indianapolis and joined Price Waterhouse. His next post was at manufacturing company Alltrista; by 1997, he was chief financial officer.
Basketball re-entered the picture by chance. The daughter of the Indiana Pacers’ GM worked for Bower at Alltrista – and recommended her boss for the team’s vacant position of CFO. Bower talks about the job with all the dig-deep drive of an athlete.
“It’s challenging to be in the entertainment business during a recession, especially in a small market with a struggling team,” he admits. “But we can’t use that as an excuse. Every day, we’ve got to keep costs down, raise revenue, and become more efficient."
To that end, Bower’s financial team has boosted attendance and revenue by introducing ticket packages, premium game pricing, and lower-priced seats.
“On average, fans can now purchase a ticket for less than they did in 2005-06,” Bower says of the current season.
Care for Community
Working for an organization deeply committed to the local community gives Bower a focus beyond just dollars and cents.
“Indiana has always been known for its basketball,” says the alumnus, who has three grown children – Erin, Megan and Kevin – with wife Maureen. “The game is important to the people in this state and has been for decades. That’s why ‘serving community’ is one of our core values.”
The Pacers organization makes the Conseco Fieldhouse available for local school, family, nonprofit, and business events. It also sponsors numerous outreach programs, such as book giveaways at games and reading programs in schools.
Power of Patience
As finance chief, Bower courts a balance between short-term needs and long-term goals. His role model for the task is colleague and fellow Indiana native Larry Bird. The Boston Celtics legend coached the Pacers to the NBA finals in 2000. In his current position, president of basketball operations, Bird is charged with hiring the coach and drafting the players.
“It’s tempting to make trades that could have a positive short-term impact but detract from your salary cap flexibility down the road,” Bower says. “Larry has been steadfast in his approach to building a great team. His approach has helped me understand the power of patience.”
So it is that after three years of keeping a tight rein on salary expenditures, this offseason the Pacers may have the flexibility to recruit some impact players. The moves could just tip the balance in bringing home the ultimate gift for Hoosier Staters: an NBA championship.