Pacers

Large crowds buoying pro sports teams

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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Pacers’ NBA title odds plunge after George’s broken leg

August 4, 2014
Bloomberg News
The Pacers were among the favorites to challenge for the Eastern Conference title this season. That was before Paul George tried to block a layup during a Team USA scrimmage three days ago and broke his right leg in multiple places.
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Paul George's broken leg leaves Pacers reeling

August 2, 2014
Associated Press
The Indiana Pacers, a round short of the NBA Finals the last two years, are left pondering a season without their best player.
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Judge OKs record-setting $2B sale of Clippers

July 29, 2014
Associated Press
In allowing the deal to go forward, Superior Court Judge Michael Levanas sided Monday with Sterling's estranged wife, Shelly Sterling, who negotiated the record sale after the NBA banned the 80-year-old billionaire for making offensive remarks about blacks.
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Pacers lose Stephenson to Hornets offer, reports say

July 16, 2014
 IBJ Staff
Pacers free-agent guard Lance Stephenson has come to terms with the Charlotte Hornets with a three-year, $27 million deal, multiple media outlets reported Wednesday morning.
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The wild East: Conference wide open with James' move

July 13, 2014
Associated Press
Cleveland isn't an automatic contender with LeBron James back in the lineup, and there are no clear candidates to fill the power vacuum left by Miami.
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Kellogg steps down from executive post with Pacers

July 1, 2014
 IBJ Staff
Clark Kellogg, 52, who played with Pacers from 1982 to 1987, will depart as vice president of player relations, a position he’s held since 2010.
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Late Pacers slump didn't slow season-ticket renewalsRestricted Content

June 21, 2014
Anthony Schoettle
The season-ticket renewal rate for next season is around 93 percent, and season-ticket sales are 15 percent ahead of last season, said Todd Taylor, the team’s chief marketing and sales officer.
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Former Pacers coach Jack Ramsay dies at 89

April 28, 2014
Bloomberg News
Jack Ramsay, who won an NBA title with Portland and coached the Indiana Pacers from 1986 to 1988, died Monday in Naples, Fla., after battling cancer for more than 15 years, ESPN reported
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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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Herb Simon: $160M Pacer deal helps heirs

April 26, 2014
Herb Simon, 79, says the $160 million deal the city struck with the Indiana Pacers this month for operating costs and stadium improvements is an outgrowth of negotiations that began way back in 2007.
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City’s $160M deal adds to Pacers' financial winning streakRestricted Content

April 19, 2014
Anthony Schoettle
The Pacers' revenue stream this season has increased about $42 million from where it was during the 2008-2009 season, and the team’s finances could get even brighter as the NBA negotiates a new national television package.
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CIB chief: $160M Pacers deal won't require tax hike

April 11, 2014
Greg Andrews
CIB President Ann Lathrop said Friday that debt refinancings at low interest rates have freed up money to fund capital projects at the 14-year-old Bankers Life Fieldhouse.
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Stephen Simon surfaces as Pacers' heir apparent

April 11, 2014
Greg Andrews, Kathleen McLaughlin, Scott Olson, Anthony Schoettle
Stephen Simon has been increasingly involved with the team since his father, Herb, acquired full ownership of the franchise before the death of Herb's brother Melvin in 2009.
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UPDATE: City reaches $160M deal with Pacers

April 10, 2014
Greg Andrews, Cory Schouten
The city's Capital Improvement Board will spend $160 million over 10 years on subsidy payments and stadium improvements for the Indiana Pacers in exchange for a lease extension through the 2023-2024 season.
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Budding Pacers star George lands Gatorade contract

March 28, 2014
Associated Press
On Friday, Gatorade will introduce Pacer Paul George as its newest NBA spokesman in a lineup that already features prominent athletes such as Dwyane Wade, Peyton Manning, Serena Williams and Derek Jeter.
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Pacers on track to post best attendance in 13 yearsRestricted Content

February 8, 2014
Anthony Schoettle
The NBA season isn’t supposed to start in earnest until after the Super Bowl. But the Indiana Pacers this season didn’t wait until an NFL champion was crowned to go red hot—on and off the court.
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Deal may extricate Pacers from costly TV-rights deal from ABA days

January 14, 2014
Anthony Schoettle
The NBA has quietly brokered a deal with the former owners of the American Basketball Association’s St. Louis franchise that sources say eventually could save the Indiana Pacers millions of dollars a year.
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Fox Sports Indiana cashing in on Pacers' success

January 4, 2014
Anthony Schoettle
The Indiana Pacers are the hottest team in the National Basketball Association, and their winning ways are paying off for the team and its broadcast partner.
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Other 2013 news of note: From Pacers to panhandling

December 28, 2013
 IBJ Staff
A look at some of the runner-up top Indianapolis business stories from 2013.
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Pacers-Heat game most-watched ever for NBA TV

December 11, 2013
Associated Press
The network said the Tuesday night telecast averaged 920,000 viewers, topping out at more than 1 million from 10:15 to 10:30 p.m. EST.
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Sales of NBA floor space off to slow start

December 3, 2013
Bloomberg News
The Indiana Pacers were the first NBA team to jump on the opportunity to sell advertising on the court. So far, just two other teams have followed suit.
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Pacers hire Disney to help upgrade service

November 23, 2013
Anthony Schoettle
The Indiana Pacers recently entered a long-term contract with Walt Disney Co.’s Disney Institute, to polish customer service from top to bottom.
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Pacers hire sports writer, exec Bill Benner as senior VP

November 6, 2013
Jeff Newman
The Longtime Indianapolis sports journalist and executive has left the Horizon League to join Pacers Sports & Entertainment as senior vice president of corporate, community and public relations.
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Pacers land IEDC as court sponsorRestricted Content

October 12, 2013
Anthony Schoettle
The Indiana Pacers have brokered a deal with an unusual sponsor—the Indiana Economic Development Corp.—to become the first of 30 National Basketball Association teams to sell courtside ads emblazoned on the hardwood.
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  1. Aaron is my fav!

  2. Let's see... $25M construction cost, they get $7.5M back from federal taxpayers, they're exempt from business property tax and use tax so that's about $2.5M PER YEAR they don't have to pay, permitting fees are cut in half for such projects, IPL will give them $4K under an incentive program, and under IPL's VFIT they'll be selling the power to IPL at 20 cents / kwh, nearly triple what a gas plant gets, about $6M / year for the 150-acre combined farms, and all of which is passed on to IPL customers. No jobs will be created either other than an handful of installers for a few weeks. Now here's the fun part...the panels (from CHINA) only cost about $5M on Alibaba, so where's the rest of the $25M going? Are they marking up the price to drive up the federal rebate? Indy Airport Solar Partners II LLC is owned by local firms Johnson-Melloh Solutions and Telemon Corp. They'll gross $6M / year in triple-rate power revenue, get another $12M next year from taxpayers for this new farm, on top of the $12M they got from taxpayers this year for the first farm, and have only laid out about $10-12M in materials plus installation labor for both farms combined, and $500K / year in annual land lease for both farms (est.). Over 15 years, that's over $70M net profit on a $12M investment, all from our wallets. What a boondoggle. It's time to wise up and give Thorium Energy your serious consideration. See http://energyfromthorium.com to learn more.

  3. Markus, I don't think a $2 Billion dollar surplus qualifies as saying we are out of money. Privatization does work. The government should only do what private industry can't or won't. What is proven is that any time the government tries to do something it costs more, comes in late and usually is lower quality.

  4. Some of the licenses that were added during Daniels' administration, such as requiring waiter/waitresses to be licensed to serve alcohol, are simply a way to generate revenue. At $35/server every 3 years, the state is generating millions of dollars on the backs of people who really need/want to work.

  5. I always giggle when I read comments from people complaining that a market is "too saturated" with one thing or another. What does that even mean? If someone is able to open and sustain a new business, whether you think there is room enough for them or not, more power to them. Personally, I love visiting as many of the new local breweries as possible. You do realize that most of these establishments include a dining component and therefore are pretty similar to restaurants, right? When was the last time I heard someone say "You know, I think we have too many locally owned restaurants"? Um, never...

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