The Indiana Pacers say they cannot afford to operate Conseco Fieldhouse and are seeking taxpayer relief.
The Indiana Pacers say they cannot afford to operate Conseco Fieldhouse and are seeking taxpayer relief.
The Pacers signed a 20-year deal to operate their home in 1999 with the city’s Capital Improvement Board (CIB) under the assumption the team could better manage the facility than a government group. Now the Pacers say they’re spending $13-$15 million yearly to operate the arena, leading the team to post about $200 million in losses since Herb Simon bought the team in 1993.
Indiana is regarded as one of the weaker franchises in the NBA: Indianapolis is a small market, and with the team in last place this season, the Pacers have struggled to attract fans and sponsors. While the fans will probably come back, it may take a year or two to attract the sponsors, given the economy.
Still, the pitch may be a hard one, and the Pacers may need to open their books to attract money. The CIB itself is losing $20 million annually, mostly related to issues at Lucas Oil Stadium, the new home of the Indianapolis Colts. One issue may be a new tax, such as a ticket tax or a hotel/motel tax, to be applied to Indy’s sports facilities.
