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Pacers plan upgrades to Bankers Life Fieldhouse

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Pacers Sports & Entertainment says it plans to announce "major improvements and upgrades" to Bankers Life Fieldhouse on Thursday at a 2 p.m. press conference.

The 13-year-old arena hosts the home games of the Indiana Pacers and Indiana Fever professional basketball teams.

A source with knowledge of the planned changes said those improvements will include a new scoreboard and a renovation of the arena's television studios.

Pacers spokesman Greg Schenkel declined to comment on the nature of the improvements.

Nearly two years ago, the Pacers spent $1.6 million to install "ribbon boards" that display advertisements and other information around the perimeter of the 18,000-seat arena. That project was paid for with money from the Capital Improvement Board, the city agency that owns the Fieldhouse and leases it to the Pacers for $1 a year.

In 2010, the CIB agreed to pay $3.5 million for upgrades to the Fieldhouse because the Pacers said they were losing money each year on operating costs for the facility. The CIB also gave the Pacers $30 million in subsidies over the past three years. City and Pacers officials are now in discussions about a new deal.

 

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  • Missing The Point
    Jim, as another poster commented, you are missing the point. Yes, other cities have lost NBA franchises, but you neglect to mention they have remained highly desirable places to live. Seattle lost the Super Sonics, and it remains an extremely affluent, highly desirable place to live and do business. It certainly ranks higher than Indianapolis based on many different criteria. Indianapolis is generally a nice city, albeit with some growing problems, that has long had as its biggest selling point that it is a very affordable place to live. But, as Indyfools points out, as the city continues to give more and more away to subsidize sports teams owned by billionaires while allowing the continued deterioration of its core public services, such as infrastructure, schools, parks, public safety, etc, then it becomes less and less of a deal. Eventually, a place ends up being cheap simply because it is undesirable. Finally, it is not vitriol to complain about misplaced municipal spending priorities. Rather, than saying, "Well, just move," the correct response is to say, "Okay, then vote the current leadership out of office," and guess what? That is precisely what is happening. Already, the new Democratic majority on the City-County Council has indicated a strong reluctance to continue subsidizing the Pacers and Colts, at least at their current levels. Yes, if the Simons and Irsays don't like getting cut off from the public trough, then they can take their professional sports teams elsewhere, but if they do, then Indianapolis can redirect the many of millions of dollars currently spent on sports toward core public services, and it will most likely be a better city because of it.
  • Indyfools has good point that Jim is to blind to see.
    I think Indyfools point is 'why are we paying for BILLIONAIRE Simon's silly home improvements with tax dollars that could benefit schools, police, fire department, etc.' A new giant screen doesn't win championships, it just impresses Simon's rich friends. Why pay all that money for a ticket to see it live and then watch it on a tv screen. Poor shallow Jim just doesn't get it.
  • Just Comments
    Many self proclaimed "movers and shakers" or others that benefit from the arrangements made with the CIB and government have as a best response to comments on the unhealthy agreements -"If you don't like it move." This confirms the depth of their argument to support the ongoing situation. If all the tax payers that did not support this give away program moved then, and only then, would the costs to keep the team in town be allocated to the correct contributors. If all tax payers were afforded the opportunity to either pay or not pay for the teams then we would be able to determine if the general public agreed with those that benefit from their presence. By considering the purchase price and current value of the Pacers it sure appears the money lost on the investment is not a large number. If the difference in market value was returned to the tax payers they may be more inclined to help. Otherwise let those that directly benefit pay the tab.
  • Contradiction
    Let's see- the story says the Pacers will pay for something with money supplied by the CIB, i.e., the taxpayers, which means the Pacers didn't really pay for it. "Nearly two years ago, the Pacers spent $1.6 million to install "ribbon boards" that display advertisements and other information around the perimeter of the 18,000-seat arena. That project was paid for with money from the Capital Improvement Board." And there you have it: flimflammery at work.
  • Laughingstock...hmm
    Interesting comment from Indyfools...Indy is a nationwide laughingstock?..., I doubt that...I am not sure how you would confirm that...most cities that have pro sports teams give sweetheart deals, and if they don't the team does not stay for too long...Seattle lost the Sonics, now in OKC...Sacramento may lose the Kings...in both cases, there will be a city snap them up, with a deal no less generous than the Pacers have. The real debate is whether or not taxpayers want to pay what it takes to be a pro sports city...obviously, Indyfools doesn't...I personally am fine with Indianapolis having sports teams, and doing what it takes to keep them, but it won't kill me if someday they say enough is enough either. I just don't get the vitriol people have about it...if it makes you that mad Indyfools, then go somehwere else...be Sioux Cityfools, or Bismarckfools...won't be anyone taking your tax dollars for a pro team there. Of course, Indyfools just likes to complain, so he/she will find something else to whine about if he relocates.
    • Indyfools
      Let's see, the Pacers will make a big announcement that they're spending YOUR money to enrich themselves. How many times can a city be fleeced? Why does no one demand the Pacers open their books? If you lent (or gave) me money for a business solely benefitting my finances, wouldn't you demand to see my books? Indy is the laughingstock of the nation when it comes to being bamboozled by pro sports owners. Now that the glow of the Super Bowl is over, how does it feel to be paying and paying and paying for Lucas Oil Field?

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    1. Yes sir keep cashing those 300K a year checks direct to IMS, while millions disappear from the teams like Rahal's. Guess there wasn't enough ka- ching going around to keep Sarah Fisher in business without their "merger". LOL._____.Meanwhile back in Realville the series with the "best racing in the world" drew what appeared to be about 5000 live spectators ( and probably 1500 of those Target "freebies", and was beaten in the ratings by a series that reportedly consists of "parades" and aired while most people are still sleeping. That will generate those big ka-chings for sure. :-). But, hey, as long as the Speedway gets the cash who gives a damn about the teams?

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