 In 2003, he was inducted into the Indiana Basketball Hall of Fame.As a junior in 1970, Steele earned 3rd team UPI/Coaches All-SEC honors and in 1971 as a senior 2nd team AP and 3rd team UPI/Coaches All-SEC honors.He was drafted by the Trail Blazers in 1971, with the 2nd pick in the 3rd round (37th overall) and by the Kentucky Colonels in the 1971 American Basketball Association draft.