Correction: Colts won't see Big Ten payday

June 7, 2011
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Eating crow once in a while is good for you. It may not be tasty, but it keeps you humble.

Making mistakes, on the other hand, is never good. Especially in my line of work, when mistakes reach thousands of people.

In my blog post Monday, I wrote that the Indianapolis Colts could make $10 million to $15 million from the Big Ten Football Championship at Lucas Oil Stadium over the next five years.

It’s true that the team does get about half of the stadium’s non-Colts revenue. But what I failed to mention is the Colts’ take is capped at $3.5 million annually. And according to Colts and city officials, the team already receives its maximum share from other non-Colts events. So, in actuality, if the current number of events keeps rolling into the stadium along with the Big Ten Championship, the Colts won’t receive a dime from the Big Ten Football Championships.

The game proceeds, then, will be split between the conference, its teams, and the city, which owns the stadium.

One more thing also needs clearing up. Monday’s post (which has since been removed in light of the error) said the Colts will make no capital outlay to host the game. In actuality, the Colts agreed to pony up $400,000 as part of the bid package to host the game from 2012 to 2015.

 
 

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  • Correction???
    If you had to write a column every time you got something wrong, that would be your only topic.
  • Curious
    So what is included in the Big Ten incentive package from government, non profit, and corporate sources?

    Did taxpayers need to dig even deeper into our pockets?

    How do they calculate theses "economic impact" numbers they throw out and any ROI calculation?

    P.S. Good to hear the Colts are contributing financially to get these type of events.

    What about the Pacers?
  • Thanks.
    I appreciate you taking the time to both acknowledge your error and correct it.
  • Congratulations
    I applaud you for publishing this correction.

    Thank you,

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  1. So much for Eric Holder's conversation about race. If white people have got something to say, they get sued over it. Bottom line: white people have un-freer speech than others as a consequence of the misnamed "Civil rights laws."

  2. I agree, having seen three shows, that I was less than wowed. Disappointing!!

  3. Start drilling, start fracking, and start using our own energy. Other states have enriched their citizens and nearly elminated unemployment by using these resources that are on private land. If you are against the 'low prices' of discount stores, the best way to allow shoppers more choice is to empower them with better earnings. NOT through manipulated gov mandated min wage hikes, but better jobs and higher competitive pay. This would be direct result of using our own energy resources, yet Obama knows that Americans who arent dependent of gov welfare are much less likely to vote Dem, so he looks for ways to ensure America's decline and keep its citizens dependent of gov.

  4. Say It Loud, I'm Black and Ashamed: It's too bad that with certain "black" entertainment events, it seems violence and thuggery follows and the collateral damage that it leaves behinds continues to be a strain on the city in terms of people getting hurt, killed or becoming victims of crimes and/or stretching city resources. I remember shopping in the Meadows area years ago until violence and crime ended make most of the business pack you and leave as did with Lafayette Square and Washington Square. Over the past 10 to 12 years, I remember going to the Indiana Black Expo Soul Picnic in Washington Park. Violence, gang fights and homicides ended that. My great grandmother still bears the scares on her leg from when she was trampled by a group of thugs running from gun fire from a rival gang. With hundreds of police offices downtown still multiple shootings, people getting shot downtown during Black Expo. A number of people getting shots or murdered at black clubs around the city like Club Six on the west side, The Industry downtown, Jamal Tinsley's shot out in front of the Conrad, multiple fights and shootings at the skating rinks, shootings at Circle Center Mall and shooting and robberies and car jackings at Lafayette Mall. Shootings and gang violence and the State Fair. I can go on and on and on. Now Broad Ripple. (Shaking head side to side) Say It Loud, I'm Black and I'm Ashamed.

  5. Ballard Administration. Too funny. This is the least fiscally responsive administration I have ever seen. One thing this article failed to mention, is that the Hoosier State line delivers rail cars to the Amtrak Beech Grove maintenance facility for refurbishment. That's an economic development issue. And the jobs there are high-paying. That alone is worth the City's investment.

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