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Maybe the numbers would have worked if Hogsett hadn’t screwed up and counted on Ozdemir to land a franchise, or started searching for a new majority owner after the first failure. The cost for an MLS franchise has gone up many multiples and lesser cities than Indianapolis got franchises …
I would assume the city isn’t contributing to the cost of acquiring the franchise, only the cost of stadium. Cost of the acquiring the franchise or license right to a soccer team will be borne by its owner/licensee.
Dollars spent to buy a franchise are no longer dollars available to finance a stadium.
Cincinnati paid $150 million in 2018.
St. Louis paid $200 million in 2019.
San Diego just paid $500 million this year.
It will cost the city big because our hopes were pinned on someone who, turns out, was never, ever going to be an MLS owner. Hogsett should have had that discussion with MLS leadership after the first failed bid.
Professional sports league owners don’t pay for stadiums in Central Indiana since the Indians contributed towards theirs 30 years ago.
The Pacers paid $57 million towards the Fieldhouse (30%) and the Colts paid $100 million towards Lucas Oil Stadium (14%)
You can argue the merits of their deals and I may well agree with you, but it’s not true to say they paid nothing.
And, oh yeah. The Indians had to contribute 25% up front.
Victory Field was built as a partnership between the Indians and the City of Indianapolis for $18 million. “They have a quasi-governmental agency called the Capital Improvement Board,” Lewandowski says. “The CIB is the lessee with the state. The Indians contributed $4.5 million upfront, and another $10 million was paid back in lease rental payments for the first 20 years of our contract. We are now in our second lease as we start our 22nd season in 2018, so the deal is a little different, but we, the ball club, continue to pay to maintain and operate the facility, just as we did the first 20 years. And we get to keep all of the revenue streams that we generate.”
https://businessviewmagazine.com/victory-field/
Hogsett is such a loser. And Braun is the worst governor since the Klan controlled the state in the 1920s. Braun makes it clear with every utterance that he is ONLY a governor for Republicans.
Such a juvenile comment. Anyone that constantly use the past to explain your position could also been seen as a race baiter. This article has absolutely nothing to do with The KKK yet here you are suggesting such ignorance. Pathetic
The comparison is apt. Braun warns of “consequences”, and while SWATTING and bomb threats is not cross burning, it’s the type of political violence the Klan endorsed.
Maybe since LLY Endowment is richer than it’s ever been, they could help to the level they did with the Hoosier Dome…
MLS is a joke anyway.
Yes, Murray. The main US professional league for the worlds most popular sport, featuring some of the biggest names in the sport, is a joke. *sarcasm / off*
Who could or would trust any public money if this sort to the Boss Hogsett administration is crazy. Trying really hard to remember anything he has actually accomplished other than allowing riots and homeless to ruin what was once a great city. This project would only have a chance of success by moving north to Fishers, Carmel Westfield area. It is where the money and fans are located.
It’s to the benefit of the Simon family, and it’s probably more justifiable than the amount of public money we’ve given the Irsay family to have a mediocre football team the past 40 years.
Also, go read the interview piece that Greg Ballard did as to why Republicans don’t win in Indianapolis. It’s because they don’t try.
Classic comment from a suburbanite who, thankfully, never puts a foot in Indy and has no idea what is going on except in their own narrow world. In this 8 at 8 alone we are talking about a $600 Million investment into redeveloping Circle Center, not to mention the $700MM redevelopment of the Pan Am Plaza with a 38 story Signia Hotel (tallest hotel in the city) and the Shinola Hotel & 4000 seat Entertainment Venue going up near Gainbridge. Laughable that all this would be happening in a “ruined” city.
Is there anything besides sports and hotels that this city could consider?