The Indiana Pacers have set a deadline of June 30 to get a deal worked out with the city’s Capital Improvement Board
concerning the team’s request for $15 million annually to cover operating costs at Conseco Fieldhouse.
According to the lease signed in 1999, the Pacers have been responsible for covering the costs. A clause in the lease lets
the organization renegotiate terms after 10 years. The team says it can't afford to continue covering the costs.
CIB President Ann Lathrop told IBJ last week that she remains confident CIB and Pacers officials will continue to
work amicably to resolve the issue.
“It’s something we have been working on for some time, and continue to work on,” Lathrop said.
Pacers officials said it is important to get a deal ironed out by June 30 to coincide with the end of the franchise’s
fiscal year.
Pacers President Jim Morris told IBJ earlier this year that the team lost $30 million during the last fiscal year
and that this fiscal year also is shaping up to be a financial loser.
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IBJNews
Pacers playing hardball with city on lease
Anthony Schoettle
April 14, 2010
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You guys have some "interesting" comments to say the least. I hope you will call in and share those opinions starting June 1. I'm looking forward to having you on the air.
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For those who let this information strike a nerve, remember that this is still the America that allows the freedom to achieve dreams and goals. Should you really chastise those who are given a perk on a deal that is supported by the consumer (that is until they don't like the deal anymore due to envy) or should the dream of rewards for working be looked at a little closer? I say lets stick to the deal, go to work,earn our keep, shoot for dreams, change our jobs to have that dream or shut up about others achievements ..............while we are still afforded this liberty of America !
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Three Magi
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Cats out of the bag. The object of the game is to get acquired. That means the company has no idea how to grow beyond a certain point. Email is a 1990s technology. I have laughed at this company since day one. Such a small bit player. If it was anywhere but here, it wouldn't be newsworthy.
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Esther, Indy has passed Chicago in the local government corruption arena. Don't downgrade us. We're No. 1 in the Midwest.
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There aren't many cities out there that are bigger that don't already have a team. The problem now is that there are too many teams chasing too few dollars. New Orlean's team is struggling with attendance. I don't see the league expanding but actually contracting as there are multiple teams losing money. Memphis is struggling also and thats the only professional team in town for them.
However, that's not to say that Indy wouldn't have to wait a decade or more for a new franchise. And they'd probably have to provide a sweetheart deal similar to what the Pacers are angling for right now.
The Pacers DO have all the leverage. If Indy decides it needs an NBA franchise, it's in their best interest to keep the Pacers now. Whether Indy needs an NBA franchise is debatable.
My guess is that Pacers will stay and we'll see the $15M Conseco operating cost split between the city and the Pacers. Where the split occurs is probably the sticking point right now, but I'd bet that the city will end up picking up well over than 50%.
The Pacers and Colts have done very nicely in this "small market".
You made a huge error by resorting to threats to leave Indianapolis. It has only pissed off all your remaining fans.
The NBA has a much stronger interest in fielding a strong team in New York City than they do in whether or not a backwater like Indy has a team or not. Conseco Fieldhouse may be nice but it won't do us a lot of good if it's empty other than a concert or ice show once in awhile.
Your statement that the Pacers aren't worth a dime is laughable. There are rich boys all across America always interested in having a toy like a pro sports team. They could get 150 million for the team without even needing to work for it. Probably well in excess of 200 million unless if they hit the panic button.
The only workable long term solution is the NBA waking up and going more to the NFL model of no guaranteed contracts, a hard salary cap, marginal players not making that much money, etc. The NBA business model is not working paying players millions a year to sit the bench and the team can't even cut their contract loose.
http://advanceindiana.blogspot.com/2009/03/bonds-for-indianapolis-water-company.html
Yeah, so, uh right. And the downside is...?
Hey, the Wigwam in Anderson is available. Don't let the door hit you in the arse.
The Simon's could purchase the Circle Center Mall bailing out the CIB as part of this General Growth deal.
Jim Irsay should give up taxpayer subsidized operating expenses in return for not going to jail with Fred Glass.
Do they think we are stupid?
Oh yeah, Fred Glass and Bart Peterson gave Jim Irsay that deal, so I guess we are that stupid.
Glass and Peterson should be in jail for that crime.
http://fwix.com/indy/share/e2ee13aeb4/dispensing_with_the_lies_told_about_the_simons_right_to_terminate_the_cib-pacers_conseco_fieldhouse_contract
Indy will get another team IF the Simon's can pull off selling that weak roster. The Pacer's aren't worth anything, so have fun. Indy would no doubt be able to attract another team with better management than what we currently have. Portland is a great example of when a small market team gets better management (Heck they even whiffed on a couple top draft picks but have made out great). We, the tax payers, shoud be able to fire these clowns and bring in a new tenant to the Fieldhouse. DO NOT GIVE THE PACERS $$$$.