The city's CIB votes for a $ 360 million deal to support the Pacers, includes renovations that close the lodge – Indiana Pacers

The city's CIB votes for a $ 360 million deal to support the Pacers, includes renovations that close the lodge – Indiana Pacers

The city's CIB votes for a $ 360 million deal to support the Pacers, includes renovations that close the lodge – Indiana Pacers



INDIANAPOLIS (WTHR) – The Pacers are one step closer to staying in Indiana for decades.

On Friday morning, the Capital Improvement Board voted in favor of a $ 360 million settlement to keep the team in the state. The $ 360 million is broken with the CIB paying $ 270 million, the Pacers paying $ 65 million and the city of Indianapolis with $ 25 million.

The CIB says that the agreement is expected to generate $ 13 billion in economic impact over the term.

The last step in the process: the agreement must still be approved by the City Council of the City.

"I want to applaud the hard work of the Capitalization Improvement Board and the Indiana Pacers that resulted in the 25-year agreement approved today," said Mayor Joe Hogsett, an Indianapolis Democrat, in a statement issued after the vote. the CIB. "I am also proud that the strength of our city's sporting strategy for decades has allowed for a long-term agreement that will not require a dime in new taxes or fees for Indiana taxpayers." In the next few weeks, I hope that "The spirit of The collaboration exhibited today will lead to bipartisan support for this agreement at the state and local level. "

Several fans said they were happy to hear of a long-term agreement.

David Brown said: "I'm happy about that, it's great news to have you here for more than 25 years."

"It's good for the city and the Pacers," agreed Rayanne Folsom-Ross. "I mean where else can they go, this is a basketball city, where else can they go?"

The current agreement is valid for 10 years and ends after the 2023-24 season. It requires the city to cover operating costs and several improvements to the Fieldhouse.

New offers updates

The "amended" agreement requires the expansion of "a country house of the future". Includes a public outdoor plaza throughout the year, meeting areas and changes in the Fieldhouse, including a giant window similar to the Lucas Oil stadium. The project is said to be a legacy for team owner Herb Simon, who is 84 years old. The CIB said goodbye to go ahead with an architect and a contractor for that expansion. The renewal would begin next summer if the state legislature and the City County Council approve it.

The renovations will have no effect on the NBA All-Star Game 2021. Interior renovations will take place from February to October 2020. The building will be closed for events from the end of the Pacers 2019-2020 season until the end of the season. October 1, 2020

Phase 2 includes an expansion of the entrance pavilion and more interior and then exterior renovations. Those will pbad after the NBA All-Star Game 2021 and will last until December 31, 2021. The building will also be closed for events from the end of the Pacers season 2020-2021 until October 1, 2021.

The construction of Phase 3 will last from January 1 to October 1, 2022. The project will complete the expansion of the entrance pavilion, the exterior plaza and the remaining interior renovations. It also means closing the building for 60 days during the summer of 2022.

This photo of an artist's performance shows a proposed expansion of Bankers Life Fieldhouse in Indianapolis, publicly announced on Friday, April 12, 2019 by the City's Capital Improvement Board. (Photo WTHR / Mary Milz)

This photo of an artist's performance shows a proposed expansion of Bankers Life Fieldhouse in Indianapolis, publicly announced on Friday, April 12, 2019 by the City's Capital Improvement Board. (Photo WTHR / Mary Milz)

This photo of an artist's performance shows a proposed expansion of Bankers Life Fieldhouse in Indianapolis, publicly announced on Friday, April 12, 2019 by the City's Capital Improvement Board. (Photo WTHR / Mary Milz)

This photo of an artist's performance shows a proposed expansion of Bankers Life Fieldhouse in Indianapolis, publicly announced on Friday, April 12, 2019 by the City's Capital Improvement Board. (Photo WTHR / Mary Milz)

This photo of an artist's performance shows a proposed expansion of Bankers Life Fieldhouse in Indianapolis, publicly announced on Friday, April 12, 2019 by the City's Capital Improvement Board. (Photo WTHR / Mary Milz)

This photo of an artist's performance shows a proposed expansion of Bankers Life Fieldhouse in Indianapolis, publicly announced on Friday, April 12, 2019 by the City's Capital Improvement Board. (Photo WTHR / Mary Milz)


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