INDIANAPOLIS (AP) — The Indiana Pacers will stay in Indianapolis for 25 more years in a deal that includes $295 million in public subsidies for a renovation and expansion of the NBA team's downtown arena.
The Marion County Capital Improvement Board voted Friday in favor of the agreement that comes as state legislators are negotiating a plan to divert state and local income and sales tax revenue generated by several downtown hotels toward the Bankers Life Fieldhouse project.
The deal calls for the Pacers to pay $65 million toward the renovations, which will feature construction of a year-round outdoor plaza in place of an existing parking garage next to the arena. It commits the board to spending up to $120 million on technology upgrades at the fieldhouse, which opened in 1999.
- Pacers, Indianapolis officials ink deal for arena overhaul
- Legislators approve subsidy plan for Indiana Pacers arena
- Indiana governor signs stadium, Pacers arena subsidy plan
- Lafayette Jeff's Jenkins, Washington ink NLIs
- Pacers rout James, Lakers 136-94
- 2nd of 3 suspects in pastor's wife's killing inks plea deal
- Officials: Hunting needed at Indianapolis park to curb deer
- Officials warn of possible measles exposure in Indianapolis
- WLFD's tall-ladder firetruck getting overhaul
- Mackey Arena hosts men's basketball watch party