Money for Nothing, Pacers for Free
When it comes to the problems surrounding the Indiana Pacers and their request the city take over $15 million in the operational expenses of Conseco Fieldhouse, I’m fully convinced that there is a workable solution to this problem.
I will admit though, when I first got the news I was ticked off. I equate it to a child telling their parent that they are in trouble and they need some fast cash to avoid disaster. The parent is angry at first, but eventually cooler heads prevail and the situation gets resolved. I think the same thing applies to the Indiana Pacers.
From what I have been able to gather, the Pacers truly are running a deficit and the city picking up the $15 million in annual costs would immensely help their bottom line. So I say the city pick up the $15 million tab, but also get a few other things in exchange. Just for starters…
- All naming rights revenue.
- All revenue from non-Pacer events at Conseco.
- All parking revenue from Pacer and non-Pacer games.
- Rent from the Pacers.
- Whatever else can cover that $15 million expense.
Now the exact figures each of these would generate has yet to be determined, but somehow I think it wouldn’t be too hard to get some accurate numbers. And if my memory serves me correct, the Pacers originally asked for operational control of Conseco when it was built so they could keep a good chunk of the revenue. Well guess what, if the city takes over the costs of running the place, it also gets the revenue Conseco generates. The Pacers could also help their bottom by learning how to win a few games and then they could increase their ticket prices.
I don’t believe the city should let the Pacers just fold, they are too important a component to the downtown area. But I also don’t believe the city should just bend over and give the Pacers the lubricant. Reasonable minds can reach reasonable conclusions. The Pacers need to do a public vetting of their finances and the city needs to constantly reassure the public it is negotiating to the best of its ability. And just like that annoyed parent, you help your kids, but you make sure this never happens again.
