CIB Adopts Budget Proposal; No New Money for Pacers
Capital Improvement Board members at Monday's meeting. (WIBC.com photo: Mike Corbin)
The Capital Improvement Board has adopted a $73.4 million budget that includes no taxpayer-funded assistance for the Indiana Pacers.
But that doesn't mean the team won't get anything in calendar year 2013 like the ten-million dollar a year agreement that's expiring after three years. The CIB is still negotiating a new Bankers Life Fieldhouse lease agreement for the Pacers and their WNBA affiliate, the Indiana Fever.
Board President Ann Lathrop says they're continuing to talk with the Pacers. She adds that right now any future deal or funding source remains uncertain. The last of three $10-million payments was made in January. The team would have to repay some of that money if it leaves Indianapolis before the existing lease expires in 2019.
Meantime, Pacers Spokesman Greg Schenkel says they talk with the CIB, their landlord, frequently. He's says both sides remain under their current agreement and he's sure they'll talk at the appropriate time.