Pacers Sports & Entertainment is going down to the wire in lining up a new sponsor for the fieldhouse. But the wait might give it extra leverage to strike an especially lucrative deal.
Pacers-CIB deal gets final approvals from City-County Council
The move pushes forward the Capital Improvement Board’s deal with the Pacers, which calls for more than $360 million in renovations to Bankers Life Fieldhouse.Read More
A committee of the Indianapolis City-County Council has signed off on bonds and financing the Capital Improvement Board needs for its share of the $360 million overhaul of Bankers Life Fieldhouse.
Podcast host Mason King talks with IBJ reporters Lindsey Erdody and Mickey Shuey about the legislation the General Assembly passed to help fund a 25-year, $800 million deal with the Indiana Pacers.
State lawmakers have given their final approval to legislation that creates funding plans for most of a $360 million renovation of Bankers Life Fieldhouse and the construction of a $150 million soccer stadium for the Indy Eleven.
State lawmakers are done making changes to legislation that would provide millions in additional revenue to the Capital Improvement Board, help keep the Indiana Pacers in Indianapolis for the next 25 years and potentially support a permanent soccer stadium for the Indy Eleven.
Plans call for the outdoor plaza to host concerts and other public events, along with a public ice-skating rink in the winter and a public basketball court in the summer.
Legislation that will help fund a renovation of Bankers Life Fieldhouse will do much more: It will bail out the Capital Improvement Board, which is headed for insolvency without the additional revenue.
The Indiana Fever would have to find a new venue in which to play home games for the better part of three seasons, due to the extensive fieldhouse renovation and expansion planned from 2020 to 2022.
Here’s a breakdown of the 158-page agreement that the CIB was considering Friday morning.
The agreement between city officials and the NBA team provides nearly $800 million in tax revenue to the Pacers over the life of the 25-year deal.
A major deal to keep the Pacers in Indianapolis for decades is expected to be voted on Friday during a meeting of the Capital Improvement Board.
The president of the Capital Improvement Board said negotiations on a 25-year deal with the Indiana Pacers are progressing, but a final pact is likely months away.
A bill filed by Senate Appropriations Chairman Ryan Mishler would extend the life of multiple tourism- and entertainment-related taxes that help fund the Capital Improvement Board and expand the footprint of what’s known as the Professional Sports Development Area to capture even more tax revenue for the CIB. But there’s a catch.
The Capital Improvement Board of Managers will ask lawmakers for more long-term funding that could be used in part for improvements at Bankers Life Fieldhouse. The governor says he’s ready to listen.
The Capital Improvement Board will seek at least $8 million from lawmakers to help fund what officials say will be a 25-year plan for improvements in the Indiana Convention Center, Bankers Life Fieldhouse and other facilities the CIB owns.
City convention officials are gearing up for a big financial ask of the Indiana General Assembly next year as they set out on a $120 million expansion of the Indiana Convention Center at Pan Am Plaza.
Pacers Sports & Entertainment on Wednesday unveiled a concessions menu that includes some of the most diverse food options in the history of Bankers Life Fieldhouse.