Brought to you by WBIW News and Network Indiana
Last updated on Friday, April 11, 2014
(Indianapolis, IN) - The Pacers have come to an agreement with the city of Indianapolis on a new deal to keep the franchise at Bankers Life Fieldhouse for a minimum of ten more years.
According to multiple media outlets, the agreement keeps the Pacers in Indianapolis through the 2023-24 season and includes three one-year options that run through the end of the 2026-27 season.
The 2027 date coincides with the final debt payments on the Fieldhouse.
The city will pay the team $160-million dollars to cover operating costs of the Fieldhouse plus an additional $26.5-million dollars has been allocated for upgrades to the Fieldhouse.
The Indianapolis Capital Improvement Board is set to vote on the plan Monday, at which time an official announcement is expected. The CIB currently pays the Pacers an average subsidy of $11.2-million dollars under a three-year agreement.
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