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.
The $33.5 million the Capital Improvement Board is providing the Indiana Pacers is merely a Band-Aid that will do little to
solve serious short-term and long-term issues facing the team.
Winning will not, as some have suggested, cure all, because the NBA business model is so horribly awry.
Conseco Fieldhouse does not belong to the Pacers, but to the city. And we need the Indiana Pacers.
Kellogg is a broadcaster for Pacers and CBS college basketball telecasts. He’ll continue his responsibilities with Pacers
TV and as the lead college basketball analyst for CBS.
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.
A June 30 deadline imposed by the basketball team passed with no agreement on who will pay Conseco Fieldhouse operating expenses,
but both sides remain optimistic a deal will get
done soon.
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.
The Indiana Pacers and Indiana Fever contribute an estimated $55 million a year to the Indianapolis economy, according to
a study conducted by Chicago-based hospitality consulting firm Hunden Strategic Partners.
The report from a Chicago consulting firm will detail how much the Indiana Pacers contribute to the local economy, as the
Capital Improvement Board negotiates with team officials over paying $15 million in annual Conseco Fieldhouse operating costs.
Speedway businessman Tim Hicks will launch the Indianapolis Drive next fall as part of the ABA’s 11th season.
I defy anyone to tell me that losing the Pacers would be a positive thing for Indianapolis.
Five years ago, the Indiana Pacers ownership was not included in discussions about a potential new downtown home for the Indianapolis
Colts, and now city and Pacers officials are paying the price.
Indiana Pacers President Larry Bird says that despite questions about the franchise's stability he's never heard team
owner Herb Simon say he would relocate the club.
It would be a sad day in our civic history if the Indiana Pacers packed up and left for a place with
more financial firepower. But there’s a limit to how far the city should go to keep the team from leaving home.
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.
