The five-story, 130,000-square-foot St. Vincent Center will be built downtown across the street from Bankers Life Fieldhouse.
Sales of season tickets, merchandise and sponsorships are all up. Attendance is expected to match—or even exceed—the 2013-2014 season. And the stadium deal the Pacers struck with the city’s Capital Improvement Board last year has freed the franchise to make investments it hopes will pay dividends long term.
The five-story practice facility across the street from Bankers Life Fieldhouse would contain a gymnasium and offices for basketball operations and Pacers Sports & Entertainment.
The city’s Capital Improvement Board on Monday afternoon unanimously approved a $160 million, 10-year finance package to the Indiana Pacers for the operations of Bankers Life Fieldhouse.
CIB President Ann Lathrop said Friday that debt refinancings at low interest rates have freed up money to fund capital projects at the 14-year-old Bankers Life Fieldhouse.
Mayor Greg Ballard is proposing to pay about half of the $20 million needed to upgrade the Natatorium at IUPUI. The city's Capital Improvement Board is also considering setting aside tax revenue for operation expenses.
Indiana Gov. Mike Pence on Saturday signed a bill into law that reshapes Marion County government through the elimination of four at-large City-County Council seats and other changes.
The Indianapolis City-County Council is poised to approve a huge increase in ticket taxes on professional sports, and one council member wants to make sure those voting on the hike disclose the freebies they get for Pacers and Colts games.
Indianapolis recently agreed to pay $10 million to help Pacers Sports & Entertainment run Bankers Life Fieldhouse for another year, but Mayor Greg Ballard wants to find out in the meantime whether the city can get a better deal on the venue’s management.