The Indiana Stadium & Convention Building Authority has reached a settlement to recover much of the $7 million in water damage Lucas Oil Stadium sustained nearly two years ago.

The authority accepted a $6.2 million offer from a group of insurers at its meeting on Monday, and still hopes to recover the remaining $800,000 at a later date.

“We have no idea when the rest of the money will be recovered,” authority spokesman David Sease said. “At some point, there will be resolution.”

The settlement stems from the July 2008 failure of several drainpipes that caused damage to the stadium’s phone and Internet communications nerve center. The damage took weeks to repair, but extra workers helped to ensure that the Indianapolis Colts opened the season in its new home on time.

Much of the damage occurred in the data center, affecting equipment related to the stadium’s phone, Wi-Fi and Internet systems.

The cause of the drainpipe failure has not been determined, Sease said.
 
The $720 million stadium will host the Super Bowl in 2012.