Pacers Co-Owner Simon Says Team Is In Tough Financial Situation
 |
Simon Says Pacers' Fan Base
Has Deteriorated In Recent Years |
The Pacers' bottom line "isn't very good," as Pacers co-Owner Herb Simon described the team's financial situation as "tough, very tough," according to Bob Kravitz of the INDIANAPOLIS STAR. Simon: "We're not crying poverty, although if you really want to get down to it, it's become a burden. I don't want this to sound like woe is me." Simon added, "The last three or four years have been disasters, and generally speaking, you can almost pinpoint it from the (brawl) game in Detroit. Not only has our fan base deteriorated but our financial condition has, too." Simon indicated that the Pacers can stay in Indianapolis "in the long term without a new lease deal" at Conseco Fieldhouse. But he added, "Is it prudent to stay if economic conditions keep deteriorating? No. ... We're here, not to keep the team here for as long as I can afford it, but to keep the team here even after someone else ... takes over this team." Kravitz noted Indianapolis' Capital Improvement Board, which oversees Conseco Fieldhouse, already has said that it "will take on $15[M] this year, which is roughly the amount of money it costs the Pacers to operate" the arena. Meanwhile, the Pacers this season "have enjoyed a modest but notable increase" in single-game ticket sales, averaging 1,328 per game through 21 games, "along with increases in group sales, 11-game plans and mini-plans" (INDIANAPOLIS STAR, 2/1).
IMPENDING GRIEVANCE: The NBPA in the next week is expected to file a grievance against the Pacers on behalf of locked-out G Jamaal Tinsley, who was banished from the team in October. Tinsley's agent, Raymond Brothers, said that he wants the team to "trade Tinsley, buy out his contract or waive him." The trade deadline is February 19. Brothers: "We've tried to deal with the Pacers in a professional manner, but it's gotten us nowhere" (INDYSTAR.com, 2/3). Pacers President of Basketball Operations Larry Bird said Monday that a trade "remains a possibility and that he is talking with several teams." He added, "We're not bringing him back. Our owner made that clear" (ESPN.com, 2/3).
|
Related Stories By Company
|
Related Stories By Sport
|
Indy May Hire Firm To Operate Stadium, Arena
October 22, 2009 :
SportsBusiness Daily
Mel Simon Saved NBA Hoops In Indianapolis
September 17, 2009 :
SportsBusiness Daily
Pacers Co-Owner Mel Simon Passes Away
September 16, 2009 :
SportsBusiness Daily
This Season Could Be WNBA Fever's Last
September 15, 2009 :
SportsBusiness Daily
Pacers' Financial Losses Trouble For CIB
August 13, 2009 :
SportsBusiness Daily
|
Ticket Package Offered For Flyers, 76ers
November 20, 2009 :
SportsBusiness Daily
NBPA Says Total Player Compensation Down
November 20, 2009 :
SportsBusiness Daily
Magic Johnson, Cisco Team For Initiative
November 19, 2009 :
SportsBusiness Daily
Nets Finding Unique Ways To Draw Fans
November 19, 2009 :
SportsBusiness Daily
Grizzlies Optimistic Despite AI Departure
November 18, 2009 :
SportsBusiness Daily
|
|
