Pacers, City Strike DealPosted: Updated:
The board in charge of major sports venues in Indianapolis is set to vote Monday on an agreement that would keep the Indiana Pacers in town for at least 13 more years. Our partners at WTHR-TV report the $160 million deal between the team and the Capital Improvement Board includes more than $25 million for upgrades to Bankers Life Fieldhouse. The agreement is for 10 years with three, one-year extentions.
A subsidiary of Pacers Sports & Entertainment will be created from the deal. Fieldhouse Management will be paid more than $7 million annually to oversee operations at the arena.
The CIB will also pay around $3.7 each year to utilities, security and storage vendors.
WTHR also reports the package includes funding to pay for the $16 million scoreboard that was unveiled at the fieldhouse two years ago.