The Pacers' current lease at Bankers Life Fieldhouse runs through '24NBAE/GETTY IMAGES
A bill filed in the Indiana General Assembly "seeks to keep" the Pacers in Indianapolis for "at least another 25 years and could significantly boost funding for sports and tourism development in the city," according to Lindsey Erdody of the INDIANAPOLIS BUSINESS JOURNAL. Senate Bill 7 would "extend the life of multiple tourism- and entertainment-related taxes that help fund the Capital Improvement Board and expand the footprint of what's known as the Professional Sports Development Area to capture even more tax revenue for the CIB." But the extra revenue "has a catch: The CIB and the Pacers have to sign a new 25-year agreement by April 1." The Pacers currently "don't have a long-term deal to stay in Indianapolis," as the team's lease at Bankers Life Fieldhouse runs through '24. The CIB, which owns Bankers Life Fieldhouse, Lucas Oil Stadium and the Indiana Convention Center, already receives $169M annually -- 80% of its revenue -- in "state and local tax dollars that it uses for operations and to pay off bonds for buildings" (IBJ.com, 1/15).
