Indiana Pacers Agrees One-Year Lease Extension

December 12, 2012

The Capital Improvement Board has voted to extend the contract with the NBA’s Indiana Pacers for one year for the use of Bankers Life Fieldhouse.

The deal will give both sides the time to come up with a long-term agreement.

“The main charge of the Capital Improvement Board is to equip, run, and keep tenants in our facilities, and that is what we’re doing by locking in the Indiana Pacers for another season,” said Ann Lathrop, CIB President.

“I did it with the understanding and hope that we are going to get dollars for public safety, and this is what this has all been about for me and the majority of the members,” said Maggie Lewis, Indianapolis City-County council president and CIB board member.

“Mayor Ballad believes this is a good solution. It helps move the city forward,” said Marc Lotter, spokesman for Mayor Ballard. “We have some serious financial challenges both at the city level, but also with the CIB, and so giving this one-year extension with the Pacers, and having them agree to that, is very important because it gives us time to solve the longterm fiscal issues that we face.”