Sporting Events

City OKs $10M in street upgrades for natatorium plan

August 6, 2014
 IBJ Staff
The Indianapolis Metropolitan Development Commission on Wednesday approved $10 million in downtown tax-increment financing funds to pay for street improvements on the IUPUI campus. The contribution works in conjunction with IUPUI's $20 million overhaul of the IU Natatorium.
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Speedway officials seek new ways to attract fans

July 30, 2014
Associated Press
Every year the challenge of keeping racing fans engaged gets a little tougher as organizers increasingly compete against other sports and children's events while trying to get fan dollars in a still-tough economy.
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Lilly reaches multiyear agreement to sponsor IMS race

July 15, 2014
 IBJ Staff
The race, which takes place the day before the annual NASCAR Brickyard 400 race at IMS, will be called the Lilly Diabetes 250.
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City focuses on streets in $30M natatorium plan

July 14, 2014
Kathleen McLaughlin
Mayor Greg Ballard on Monday morning unveiled details of the plan, in which IUPUI and Lilly Endowment each contribute $10 million for the IU Natatorium renovation. The city's $10 million part of the plan involves nearby streets.
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Indy lands huge volleyball event with $59M impact

June 30, 2014
 IBJ Staff
Indianapolis is expecting 15,000 athletes and 30,000 spectators for the 2016 USA Volleyball Girls’ Junior National Championships.
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City quietly scales back World Sports Park

June 28, 2014
Kathleen McLaughlin
Indianapolis is reining in costs and dialing back ambition at the new east-side World Sports Park. The park, which will be home to one of the few premier cricket fields in the United States, is coming in about $1 million under its $6 million budget because it will have fewer features than planned.
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NCAA ex-athlete backs unpaid Little Leaguers in TV money trial

June 9, 2014
Bloomberg News
The outcome will determine whether the NCAA, which treats student-athletes as amateurs, has to stop barring them from negotiating their own deals in games that are broadcast.
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Indy lands Big Ten championships through 2022

June 5, 2014
 IBJ Staff
Football will stay at Lucas Oil Stadium, and basketball will alternate with Chicago. The move allays suspicion that the conference intended to shift championship play to East Coast venues.
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Notre Dame takes lacrosse’s lowest revenue into final four

May 26, 2014
Bloomberg News
The University of Notre Dame men’s lacrosse team had a $1.5 million loss last year, highest in the country and more than triple the combined losses of the three other schools competing for the national title this weekend.
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Hunter-Reay holds off Castroneves to win Indy 500

May 25, 2014
Associated Press
Ryan Hunter-Reay used a series of daredevil moves in the final laps to deny Helio Castroneves a chance at history on Sunday and became the first American since 2006 to win "The Greatest Spectacle in Racing."
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Ownership switch eyed for Anderson's Wigwam gym

May 22, 2014
Associated Press
Officials are working on the details of transferring ownership of Anderson's iconic Wigwam gymnasium to the city as part of the effort to save it.
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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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Indy Super Bowl bid calls for new football research center, HQ

May 20, 2014
Anthony Schoettle
Part of the legacy project included in Indianapolis' 2018 Super Bowl bid includes building a research and training center and headquarters for USA Football, local bid committee members revealed Tuesday morning.
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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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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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Bowl bid focuses on football safety, with Saturday at center of pitch

May 19, 2014
Anthony Schoettle
Indianapolis is betting that an ambitious project to study safety issues at all levels of football, plus expanding and snazzing up the Super Bowl Village, will help win the 2018 Super Bowl. And Jeff Saturday will help deliver the message.
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Cricket-association turmoil imperils local eventRestricted Content

May 10, 2014
Anthony Schoettle
Turmoil within the USA Cricket Association could jeopardize the organization’s national championship set for Indianapolis’ new World Sports Park in August, though local officials remain confident the event will happen.
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500 Festival Mini Marathon might not fill field

April 20, 2014
Associated Press
With less than two weeks to go, the 38th 500 Festival Mini Marathon might not have a full field for the first time in 12 years.
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Big money under close scrutiny at NCAA Final Four

April 4, 2014
Bloomberg News
Kentucky's coaching staff will reap an extra $736,000 if the team wins the NCAA basketball tournament. Meanwhile, players are being asked by security to remove labels from water bottles at practice to avoid conflicts with a sponsorship agreement.
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Kentucky teams drive surge in demand for Indy's NCAA regional

March 24, 2014
Anthony Schoettle
Demand for tickets and local hotel rooms spiked once it became clear that Kentucky and Louisville would meet in the Sweet Sixteen at Lucas Oil Stadium this weekend.
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Speedway outsources concession stand operations

March 7, 2014
Anthony Schoettle
The Indianapolis Motor Speedway on Friday reached a multiyear deal with Illinois-based Levy Restaurants to operate concession stands and manage premium beverage operations during major events.
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Big Ten men's basketball tourney already sold out

February 24, 2014
 IBJ Staff
The tournament is returning to downtown’s Bankers Life Fieldhouse after being played at the United Center in Chicago a year ago. It will be the ninth time Indianapolis has hosted the tournament in the event's 16-year history.
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Vintage-car entrants for Speedway race zoom past maximum

February 18, 2014
Anthony Schoettle
The rush of drivers trying to enter a new vintage car race at the IMS was so fast and furious that the event promoter has been forced to turn away many of them.
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Verizon Wireless to sponsor eight of Montoya's races

February 10, 2014
Associated Press
Roger Penske wasn't worried about finding a sponsor for Juan Pablo Montoya when he signed him, believing there would be interest in the Colombian's return to open-wheel racing.
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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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