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Can the CIB give an update on if they’re going to address the massive debt load from Lucas Oil Stadium?? Last I heard, we’ve just been paying off the interest? I’m sure Jimmy from the colts is going to want renovation on Lucas soon than later.
The bond payment schedule was such that only interest was paid until about 2019, then actual debt started being paid off aggressively.
IFA documents show that LOS is on pace to be paid off by 2037, which is the last year of the Colts’ current lease assuming they don’t opt out in 2030. But we should fully expect Irsay to get another $1B or two by 2030.
I wish there was a full accounting made public. the restaurant taxes paying off those bonds have probably tripled since 2005. the point about renovation of LOS is a good one. Why not refi the deal??? Interest rates were higher when those original bonds were issued than they are today.