DEAL ACCEPTED: Legendary Indiana Hoosiers Player Steve Alford Resurfaces as Co-Owner Indiana Hoosiers …

DEAL ACCEPTED: Legendary Indiana Hoosiers Player Steve Alford Resurfaces as Co-Owner Indiana Hoosiers owners Family has made the historic announcement that legendary Steve Alford , who has long been associated with the team, would rejoin the team as a co-owner in 2025……

DEAL ACCEPTED: Legendary Indiana Hoosiers Player Steve Alford Resurfaces as Co-Owner of Indiana Hoosiers Basketball

Bloomington, IN – July 6, 2025

In a stunning and historic development, Steve Alford, one of the most iconic players in Indiana Hoosiers basketball history, has returned to the program—this time as co-owner.

Alford, a former NCAA Champion and longtime college basketball coach, finalized a deal with the university’s newly formed name, image, and likeness (NIL)-aligned ownership group, giving him a strategic stake in the direction of Hoosiers basketball. This marks a bold new era in college athletics, where legacy players and alumni are playing an increasing role in funding, branding, and influencing programs.

The move follows Indiana University’s recent shift toward a hybrid model that blends traditional school oversight with outside investment and NIL partnerships—aimed at keeping the program nationally competitive.

Alford expressed his excitement in a statement:
“This program has always been home. To be able to return not just as a fan or former player, but as someone who can shape its future—it’s deeply personal. I’m here to help bring Indiana back to the top of college basketball.”

Alford played under the legendary Bobby Knight, leading Indiana to a national championship in 1987. He later built a successful coaching career, with head coaching stints at Iowa, New Mexico, UCLA, and Nevada. His deep ties to the program, combined with his experience on and off the court, make him a powerful figure in this new leadership role.

While the exact financial terms of the deal remain confidential, sources close to the program say Alford will play an active role in player development strategy, alumni engagement, and NIL resource coordination.

With this announcement, Indiana sends a clear message to the college basketball world: tradition meets innovation—and they’re ready to compete at the highest level once again.