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Old 04-04-2009, 08:36 PM   #1
I-Want-Troy's-Hair
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Default Colts new stadium now an oil slick?

http://www.theindychannel.com/money/.../detail.html#-

INDIANAPOLIS -- The head of the Indianapolis Capital Improvement Broad said Friday that if a deal isn't reached on a $47 million bailout bill it's possible Lucas Oil Stadium may close.

The Senate Appropriations Committee approved a bill Thursday that would raise several taxes, including those on alcohol statewide, restaurant meals and hotel stays in Marion County and tickets to sporting events in Indianapolis to bail out the organization that manages the city's professional sports facilities.

Analysis: Colts Care?

But the measure faces a tough fight on the Senate floor from lawmakers from the edges of the state who feel they're being asked to bail out Indianapolis.

CIB President Bob Grand said Friday that the organization won't have many choices if the Legislature doesn't approve the bill.

"If you want me to give you worst-cases, I mean the worst-case scenario is we could be out of money and the facilities would be, arguably, closed," he told 6News' Norman Cox.

The largest part of the CIB's deficit comes from the higher-than-expected operating costs for Lucas Oil Stadium.

The previous board, appointed by then-Mayor Bart Peterson, didn't budget enough money, at least partly because it didn't know how much operating the new stadium would cost.

The CIB now estimates a total of $26 million in operating costs -- $10 million for salaries of stadium workers, $5 million for utilities, $5 million to the Colts and $6 million for other services, such as game-day setup.

The bailout bill would double the wholesale tax on beer, wine and spirits, raise local hotel and motel taxes from 9 to 10 percent, boost the food and beverage tax a quarter of a percent and increase the tax on stadium and Conseco Fieldhouse tickets from 6 to 10 percent.

The bill also assumes $5 million a year each in contributions from the Colts and Indiana Pacers.

Pacers Chief Operating Officer Rick Fuson has been upbeat about the NBA franchise's part of the deal, possibly because the Pacers would be able to get out of their current $15 million commitment to operate Conseco Fieldhouse.

But the Colts have made no promise to pay anything. Colts President Bill Polian said Thursday that the team would discuss what it might consider paying.

"We look forward to working with you and your colleagues in the Legislature in taking a look at this problem and in sharing with you data and information that we will make available to you," he said.

Debate on the bill will resume next week.
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Old 04-04-2009, 08:51 PM   #2
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Default Re: Colts new stadium now an oil slick?

So there is potential for the Kansas City Chiefs and the Indianapolis Colts to not play a single game in their home stadiums this season?

Wow.
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Old 04-04-2009, 11:30 PM   #3
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Default Re: Colts new stadium now an oil slick?

Wow.
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Old 04-04-2009, 11:37 PM   #4
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Default Re: Colts new stadium now an oil slick?

Dang. Poor Colts. Peyton won't be the same without his dome.
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Old 04-05-2009, 03:41 AM   #5
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Default Re: Colts new stadium now an oil slick?

I'm sure it will work out. I mean what could could possibly happen? It's not like the Colts would just pack up the team in the middle of the night and leave town. That would be crazy.,
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Old 04-05-2009, 06:24 AM   #6
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Default Re: Colts new stadium now an oil slick?

Quote:
Originally Posted by I-Want-Troy's-Hair View Post
http://www.theindychannel.com/money/.../detail.html#-The Senate Appropriations Committee approved a bill Thursday that would raise several taxes, including those on alcohol statewide, restaurant meals and hotel stays in Marion County and tickets to sporting events in Indianapolis to bail out the organization that manages the city's professional sports facilities.
Yes, let's pass off the costs of a few specific people's stupidity to everyone around the state, and mostly take it out on the drinkers because they're an easy target.

Seriously, you put together almost a $1 billion deal for a new stadium and didn't make sure that the whole thing wouldn't get screwed up by about 5% of the total cost? We're talking about $47 million? Are you kidding me? Some dipshit rookie will probably get that as a signing bonus. I have no sympathy whatsoever for anyone even remotely connected to the Colts if they've screwed this up so bad.
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Old 04-05-2009, 12:12 PM   #7
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Default Re: Colts new stadium now an oil slick?

So, what you're saying is that the NFL will reconvene the owners in an emergency session to now institute the Manning Rule, whereby the rest of the league must chip in to operate Lucas oil so the NFL doesn't suffer a sub standard season from Manning????
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Old 04-05-2009, 01:57 PM   #8
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Default Re: Colts new stadium now an oil slick?

Quote:
Originally Posted by OneForTheToe View Post
I'm sure it will work out. I mean what could could possibly happen? It's not like the Colts would just pack up the team in the middle of the night and leave town. That would be crazy.,
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Old 04-05-2009, 02:02 PM   #9
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Default Re: Colts new stadium now an oil slick?

Quote:
Originally Posted by OneForTheToe View Post
I'm sure it will work out. I mean what could could possibly happen? It's not like the Colts would just pack up the team in the middle of the night and leave town. That would be crazy.,
Nope, nope. Couldn't happen.
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Old 04-05-2009, 02:53 PM   #10
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Default Re: Colts new stadium now an oil slick?

The Bears recently played at the University of Illinois for a year while work was being done on their stadium. U of I is about 1 1/2 hrs from Chicago and seats 75,000 people.

I bring it up only because Indianapolis happens to be....1 1/2 hours from the same stadium.

Soooooo....I'm not saying that they would temporarily go to the U of I...but there are OTHER options if the Colts are being used as leverage to get more money for a big business bailout.
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