UPDATE: Indianapolis raises more than $25M for bowl

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The Indianapolis committee bidding to host the 2011 Super Bowl has raised more than $25 million to pay for the event.

The figure was a self-imposed goal, and has been funded entirely by private donations, said Baker & Daniels partner Fred Glass, who is helping head the team.

A decision is expected this afternoon. Indianapolis and North Texas are largely believed to be the front-runners for the game, since Glendale, Ariz., is hosting the 2008 Super Bowl.

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