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PACERS INK CONSECO TO NAMING RIGHTS DEAL FOR NEW FIELDHOUSE
Published May 27, 1998
The Pacers on Friday announced a 20-year naming rights agreement to its new Fieldhouse arena with IN-based Conseco, Inc. The 18,500-seat Conseco Fieldhouse will open for the '99-2000 season (Conseco). In Indianapolis, Sean Horgan reported that the insurance and financial services company has agreed to pay the Pacers $2M a year for the next 20 years. The deal includes a "reopener clause," which allows the Pacers to review the $2M annual fee after 10 years "in relation to the value of naming rights for athletic facilities across the country." Conseco also holds right of first refusal, giving it the opportunity to retain the naming rights beyond the life of the current deal. Conseco Chair Stephen Hilbert: "I think it's going to be one of the best bangs for our dollar" (INDIANAPOLIS STAR-NEWS, 5/23).