Conseco name lives on at downtown arena
CNO Financial Group appears to have backed away from plans to change the name of the Indiana Pacers home it sponsors, Conseco Fieldhouse, even though the company no longer uses the Conseco name.
CNO Financial Group appears to have backed away from plans to change the name of the Indiana Pacers home it sponsors, Conseco Fieldhouse, even though the company no longer uses the Conseco name.
Attendance has improved since the team’s league-worst mark in 2007-2008, but cracking the 15,000-per-game mark is a struggle.
The Capital Improvement Board, through the first nine months of the year, was running $12.3 million ahead of budget, by posting $6.5 million more revenue than planned while cutting $5.8 million in expenses.
The new “video ribbon,” which could cost up to $1.6 million, will be paid for with funds from the Capital Improvement Board. It will be installed around the entire upper fascia of the arena between the second and third levels.
My introduction to the raw reality of boxing left me with admiration for the physical skills necessary to be a fighter and the sheer toughness it takes to get into the ring. However, at the same time, being young and naïve, I was shaken by the brutality of the enterprise.
Capital Improvement Board president says initial $10 million payment to the Indiana Pacers is not only reason for the larger
budget. Rather, she insisted it’s largely due to $5 million in renovations slated for Conseco Fieldhouse and other CIB-operated
facilities.
The IBJ and others keep repeating that, should the Pacers leave, the city would be stuck with paying $14 [million]-$18
million a year in fieldhouse operating costs. Are you all assuming the facility will sit vacant? Come on.
The three-year agreement is designed to help the franchise shoulder the costs of operating Conseco Fieldhouse. One dissenting
voice called the team and city back to the negotiating table for a longer-term deal.
State officials decided to reduce the interest rate on a $9 million loan to the city's Capital Improvement Board by 1
percentage point. The news couldn't come at a better time for the agency, which is trying to find money to assist the
Indiana Pacers.
A combination of taxes targeting downtown visitors and users of the city’s professional sports complexes are expected to generate
the bulk of the subsidy.
The city will contribute $10 million annually for three years toward Conseco Fieldhouse operating expenses. It also will provide
at least $3.5 million for capital improvements.
The Capital Improvement Board earned $10 million last year after reporting a $16.8 million loss in 2008. Its financial future
is clouded, however, by talks with the Indiana Pacers over Conseco Fieldhouse operating costs.
The Indiana Pacers still are renegotiating the team's lease of Conseco Fieldhouse with a Wednesday deadline approaching.
City officials want to wait until economy, National Basketball Association labor situation stabilize before entering longer-term
deal. Optimism remains deal can get done by June 30.
Hollywood Bar and Filmworks owner Ted Bulthaup said higher parking rates following Conseco Fieldhouse’s opening
drove his patrons away.
The IRS agreed.
I defy anyone to tell me that losing the Pacers would be a positive thing for Indianapolis.
Moving the Indiana Pacers from Conseco Fieldhouse to another city would impose serious financial hardship on the franchise,
according to one interpretation of the team’s 10-year-old deal with the city.
The Indiana Pacers set a June 30 deadline to get a deal worked out to operate Conseco Fieldhouse. The team wants $15 million
annually.
The NCAA and city put together a deal to cover insurance and liability issues for this year’s Final Four, but are still finalizing
an agreement that assures the event comes back regularly through 2039.
Organizers credit stronger ticket-selling efforts and new promotions for boosting attendance to more than 81,000, the highest
it’s been since the tournament became an annual event in Indianapolis.