Correction: Colts won't see Big Ten payday

June 7, 2011
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Eating crow once in a while is good for you. It may not be tasty, but it keeps you humble.

Making mistakes, on the other hand, is never good. Especially in my line of work, when mistakes reach thousands of people.

In my blog post Monday, I wrote that the Indianapolis Colts could make $10 million to $15 million from the Big Ten Football Championship at Lucas Oil Stadium over the next five years.

It’s true that the team does get about half of the stadium’s non-Colts revenue. But what I failed to mention is the Colts’ take is capped at $3.5 million annually. And according to Colts and city officials, the team already receives its maximum share from other non-Colts events. So, in actuality, if the current number of events keeps rolling into the stadium along with the Big Ten Championship, the Colts won’t receive a dime from the Big Ten Football Championships.

The game proceeds, then, will be split between the conference, its teams, and the city, which owns the stadium.

One more thing also needs clearing up. Monday’s post (which has since been removed in light of the error) said the Colts will make no capital outlay to host the game. In actuality, the Colts agreed to pony up $400,000 as part of the bid package to host the game from 2012 to 2015.

 
 

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  • Correction???
    If you had to write a column every time you got something wrong, that would be your only topic.
  • Curious
    So what is included in the Big Ten incentive package from government, non profit, and corporate sources?

    Did taxpayers need to dig even deeper into our pockets?

    How do they calculate theses "economic impact" numbers they throw out and any ROI calculation?

    P.S. Good to hear the Colts are contributing financially to get these type of events.

    What about the Pacers?
  • Thanks.
    I appreciate you taking the time to both acknowledge your error and correct it.
  • Congratulations
    I applaud you for publishing this correction.

    Thank you,

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