Pacers, city reach $160M deal to keep team in Indy
April 11, 2014HOOSIER SPORTS 365
The Pacers will continue to play basketball in Indianapolis for at least a decade under a $160 million deal the team and the city plan to announce Monday morning.
The agreement locks the team into Bankers Life Fieldhouse for 10 years, with three one-year renewal options, according to documents obtained by The Indianapolis Star. In exchange, the city will provide $160 million to cover operating costs and facility upgrades.
The city's Capital Improvement Board is expected to vote on the deal Monday.