CIB poised to vote on Pacers retention deal during Friday meeting

A major deal to keep the Indiana Pacers in Indianapolis for decades is expected to be voted on Friday during a meeting of the Capital Improvement Board.

Local leaders and team officials are staying mum on the topic, but an agenda for the CIB’s meeting says multiple items related to Bankers Life Fieldhouse will be discussed—including items related to an “expansion” of the venue.

The meeting will begin at 8:30 a.m. in the Visit Indy boardroom.

The CIB, city and Pacers have been working toward a deal for several months, with those efforts ramping up in recent weeks as the Legislature has moved forward with a bill that would help fund the Pacers deal and other initiatives, including an expansion of the Indiana Convention Center.

IBJ previously reported the team wants funds to go toward significant upgrades to the arena, which opened in 1999, including more contemporary seating, technology improvements and unique spaces for fans.

CIB and Pacers officials have repeatedly declined to share how much money the team is seeking. The deal would be tied to an agreement to keep the NBA franchise in town for at least 25 years—a condition stipulated in Senate Bill 7 and desired by 84-year-old Pacers owner Herb Simon.

The Pacers have generally had shorter-term deals with the CIB, including a 10-year extension in 2014.

A spokesperson for the CIB declined to comment.

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