Pro Sports

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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Recent minor-league team sales suggest Indians worth $40M-plus

August 16, 2014
Anthony Schoettle
A stunning string of sales of minor-league baseball teams this year suggests the Indianapolis Indians’ current stock buy-back offer might be undervaluing the franchise.
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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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Indy Fuel inks broadcast agreement with WRTV

July 30, 2014
 IBJ Staff
The city's new professional hockey team, the Indy Fuel, said Wednesday that it has reached a broadcast agreement with WRTV Channel 6 to televise the team's 36 home games during the 2014-15 season.
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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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James spurns Miami, returns to Cleveland Cavaliers

July 11, 2014
 IBJ Staff, Associated Press analysis
Four-time NBA most valuable player LeBron James said Friday that he felt a calling to be a leader in the city where he started his career.
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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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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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Trademark board rules against Redskins name

June 18, 2014
Associated Press
The U.S. Patent Office ruled Wednesday that the Washington Redskins nickname is "disparaging of Native Americans" and that the team's federal trademarks for the name must be canceled.
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IU medical school helping to lead $30M concussion study

May 30, 2014
Associated Press
The Indiana University School of Medicine will help oversee a three-year, $30 million concussion study being funded by the Indianapolis-based NCAA and the U.S. Defense Department.
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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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Indy Fuel sign coach with team-building experience

May 27, 2014
 IBJ Staff
The city’s new professional hockey team on Tuesday announced the hiring of Scott Hillman, head coach and director of player operations for the Missouri Mavericks for the past five years.
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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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Indy 500 revels in tradition, embraces changes

May 23, 2014
Jessica Wray, The Statehouse File
The hallowed race is straddling a fine line as it tries to please longtime devotees and makes a raft of upgrades to the track and viewing experience designed to secure new fans.
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WNBA marketing campaign targets LGBT community

May 21, 2014
Associated Press
With the campaign, the WNBA is capitalizing on what it has known for years: The gay community makes up a significant portion of its fan base. The difference now is that the league is talking about it publicly and making it a deliberate part of its marketing strategy.
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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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  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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