Colts

Large crowds buoying pro sports teamsRestricted Content

August 30, 2014
Anthony Schoettle
There’s never been a better time to be a professional sports franchise operator in Indianapolis. Season-ticket renewal rates and attendance are near record levels. But some observers wonder whether too much of a good thing could turn into a bad thing if spending on sports outruns growth in the local economy.
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Change of plea hearing set for Colts owner Irsay

August 29, 2014
Associated Press
A change of plea hearing has been set for Tuesday for Indianapolis Colts owner Jim Irsay, who faces drug-related charges following a March traffic stop.
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NBA unveils new rules to make baselines safer

August 26, 2014
Associated Press
Clearing the congestion behind the playing area was planned even before Indiana Pacer Paul George broke his right leg when he crashed into the stanchion last month during a USA Basketball exhibition game.
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Colts' Irsay seeks delay of trial on DWI charges

August 18, 2014
Associated Press
An attorney for Indianapolis Colts owner Jim Irsay filed the request for the continuance Monday. His trial had been scheduled for Aug. 28.
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New TV deals to provide huge cash infusion for Colts

August 2, 2014
Anthony Schoettle
The NFL’s new contracts with CBS, Fox, NBC and ESPN—which take effect this month—are set to deliver each of the league’s 32 teams a $27 million bump in national television revenue, according to sources familiar with the deals.
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NFL agrees to remove $675 million cap on head injuries

June 25, 2014
Associated Press
The NFL agreed Wednesday to remove a $675 million cap on damages from thousands of concussion-related claims after a federal judge questioned whether there would be enough money to cover as many as 20,000 retired players.
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Ex-Colt testifies to Senate panel about brain damage

June 25, 2014
Associated Press
Former NFL tight end Ben Utecht told a Senate hearing Wednesday that he fears where his history of brain injuries will leave him in the future.
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Former Colt, Bear take tax lawsuit to Ohio's top court

May 29, 2014
Bloomberg News
Former Indianapolis Colts center Jeff Saturday and ex-Chicago Bear linebacker Hunter Hillenmeyer are suing Cleveland over what they consider an "egregious and shameless money grab."
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Irsay formally charged with two misdemeanors

May 24, 2014
Associated Press
Police had filed four preliminary felony counts of possession of a controlled substance, stemming from his intoxicated driving arrest near his home in March. Prosecutors took weeks before deciding to file the misdemeanor charges instead.
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Irsay open to another Super Bowl bid, but 2019 looks unlikely

May 20, 2014
Anthony Schoettle
It’s unclear what’s next for Indianapolis, which hosted its first Super Bowl in 2012. Organizers said it’s simply too early to consider going for another Super Bowl. It seems bidding next year for the 2019 game is off the table.
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Indianapolis loses Super Bowl bid to Minneapolis and its new stadium

May 20, 2014
Bloomberg News, Anthony Schoettle
Despite having what several NFL executives said was the strongest proposal, Indianapolis lost out on hosting the 2018 championship game to a city with a new, $975 million stadium in the wings.
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NFL owners to consider expansion of playoffs

May 20, 2014
Bloomberg News
In addition to deciding which city will host the 2018 Super Bowl, National Football League owners on Tuesday will try to determine whether to add two more teams to the playoffs.
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Indy an underdog in final push to capture 2018 Super Bowl

May 20, 2014
Anthony Schoettle
New Orleans has emerged as the front runner to host the Super Bowl in 2018 due to its tricentennial celebration and the fact that this could be 87-year-old Saints owner Tom Benson's last crack at hosting the big game.
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Irsay to pump Indy's Bowl bid, refuses to discuss March arrest

May 19, 2014
Anthony Schoettle
When ESPN’s Sal Paolantonio offered Indianapolis Colts owner Jim Irsay the chance to apologize to the Colts team and fans, he refused to bite.
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Bid says 2 new hotels possible before 2018 Super Bowl

May 7, 2014
Anthony Schoettle
The city on Wednesday turned in a 900-page bid to host the 2018 Super Bowl that mentions the possibility of two new downtown hotels. Meanwhile, a Colts official said owner Jim Irsay plans to help lobby for the city's bid at the May 19-21 NFL owners meeting.
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Seahawks’ Wilson overtakes Manning in NFL product sales

April 28, 2014
Bloomberg News
Former Colts quarterback Peyton Manning has been passed as the top National Football League player when it comes to merchandise sales. Two Colts rank among the top 50.
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MORTON: Indy's road to Oz will end soon for sports team owners

April 26, 2014
David B. Morton
The seemingly endless yellow brick road to Oz, or what residents of central Indiana have come to accept as privately owned professional sports franchises seeking financial sustenance to build and upgrade, is nearing a tipping point of practical expenditures.
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Colts to open season against Manning's Broncos

April 23, 2014
Associated Press
Indianapolis will open this season at AFC champion Denver in a Sunday night NFL showdown pitting quarterback Peyton Manning against his former team.
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CIB OKs Pacers subsidy after promise of no additional taxes

April 14, 2014
Anthony Schoettle
The city’s Capital Improvement Board on Monday afternoon unanimously approved a $160 million, 10-year finance package to the Indiana Pacers for the operations of Bankers Life Fieldhouse.
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Colts owner Irsay's court hearing delayed

March 25, 2014
Associated Press
The Hamilton County Prosecutor's Office issued a statement Tuesday saying the hearing was postponed "unless or until" formal charges are filed against him.
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Irsay arrest spurs talk of Colts succession planRestricted Content

March 22, 2014
Anthony Schoettle
Indianapolis Colts owner Jim Irsay gave a clear signal in 2012 about his long-term succession plan by naming his three daughters vice chairwomen and co-owners. His March 16 arrest might hasten the launch of that plan, or at the very least give Colts fans a glimpse of what it will look like.
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Colts owner enters treatment center following arrest

March 18, 2014
Associated Press
Jim Irsay's family says the Indianapolis Colts owner has placed himself in health care treatment following his arrest on preliminary charges of driving while intoxicated and possession of a controlled substance.
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Irsay arrest may bring NFL punishment, sharpen scrutiny on bowl bid

March 17, 2014
Anthony Schoetle
The drug-related arrest of Indianapolis Colts owner Jim Irsay could bring repercussions from the National Football League and might play a factor in the city's bid for the 2018 Super Bowl.
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NFL wild-card games deliver big weekend numbers

January 6, 2014
Associated Press
Four games averaged 34.7 million viewers for the most-watched wild-card weekend on record. The Colts-Chiefs game was one of the highest rated ever among early-Saturday wild-card contests.
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Bengals join Packers, Colts with sellout preventing blackouts

January 3, 2014
Bloomberg News
All four of the National Football League’s wild-card playoff games will be televised in their host team’s local market after corporate support helped ensure sellouts.
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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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