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Last updated on Tuesday, April 15, 2014
(Indianapolis, IN) - The Pacers prospective deal with the city of Indianapolis was officially approved and agreed upon yesterday.
The deal is worth 164 million for the Pacers and guarantees they will play at Bankers Life Fieldhouse for the next 10 years, with 3 possible 1 year extensions.
For Indianapolis they will receive the right of first offer if owner Herb Simon passes away during the contract and his heirs attempt to sell the team. In that event, the city could then designate a new potential owner who could make the first offer on the team or match an offer from someone else.
The deal, though costly, is greatly beneficial for the city of Indianapolis for revenue generating purposes, as well as public interest.
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