CIB to Vote on Pacers DealPosted: Updated:
The Capital Improvement Board in Indianapolis is set to vote this afternoon on a $160 million deal to keep the Indiana Pacers at Bankers Life Fieldhouse for up to 13 more years. The contract includes more than $25 million in upgrades that will be paid for by the city. You can view a Power Point presentation provided by the CIB detailing the deal by clicking here.
Fieldhouse Management, a subsidiary of Pacers Sports & Entertainment that will be created from the deal, will be paid more than $7 million per year to oversee operations of the arena that is home to the Pacers, the Indiana Fever and dozens of concerts and other sporting events throughout the year.
Provisions of the contract also call for the CIB to pay for the $16 million scoreboard and sound system installed two years ago.
Source: The Capital Improvement Board