Pacer fans: status on ownership question

gold_leader64 · Post #1 » by **gold_leader64** » Mon Jan 10, 2011 1:48 am

I remember reading an article about the rocky situation with the team in indy, and the possibility of it being sold and/or moved. Is there any updates to this? How is it working out?

Indy2thaWindy · Post #2 » by **Indy2thaWindy** » Mon Jan 10, 2011 1:51 am

gold_leader64 wrote:I remember reading an article about the rocky situation with the team in indy, and the possibility of it being sold and/or moved. Is there any updates to this? How is it working out?

We signed a deal before the season started to be here for 3 more years. By then the Colts will suck, and everybody will be coming to the Pacers games.

chube · Post #3 » by **chube** » Mon Jan 10, 2011 2:02 am

^^^ That, plus hopefully the Pacers will be back to being relevant. And not just in "hey, we hopefully will make the playoffs in the top-heavy East" kind of way. But a legitimate challenging for home-court in the first round kind of way.

It's hard for me to think the Pacers will leave. I remember that study saying that the city would lose $55 million or something like that if the team leaves. While common opinion is that "nobody cares about the Pacers," that big of a $$$ number will likely trump that.

colts2004 · Post #4 » by **colts2004** » Mon Jan 10, 2011 2:39 am

C

Indy2thaWindy wrote:
gold_leader64 wrote:I remember reading an article about the rocky situation with the team in indy, and the possibility of it being sold and/or moved. Is there any updates to this? How is it working out?

We signed a deal before the season started to be here for 3 more years. By then the Colts will suck, and everybody will be coming to the Pacers games.

How you figure the Colts will suck?

Post #5 » by **Scoot McGroot** » Mon Jan 10, 2011 2:47 am

gold_leader64 wrote:I remember reading an article about the rocky situation with the team in indy, and the possibility of it being sold and/or moved. Is there any updates to this? How is it working out?

It's not getting moved or sold. Their arena lease is actually much longer, they simply agreed to not exercise their opt-out lease option this summer. They're getting paid $10 million a year to help subsidize the cost of operating Conseco Fieldhouse, their home arena. However, if they leave in 2013 (or shortly after), they have to re-pay the $30 million, in addition to a large opt-out fee as well. Moving could cost almost $50 million or more, just to the city of Indianapolis, before even paying a similar fee to the NBA board of owners to move a franchise. I'm not sure anyone would pay $100 million to move the Pacers.

They're likely here until at least 2019-2020, when they would no longer have to repay the full $30 million. At that point, a re-location fee is somewhat manageable, though the Pacers have made it through much worse times in the 70's and 80's. I doubt they would be in a position to consider moving until then. Heck, even if Simon has to sell his interest in the team, I can't see anyone else coming in and wanting to pay roughly $100 million to move the team.

Starkiller · Post #6 » by **Starkiller** » Mon Jan 10, 2011 3:42 am

colts2004 wrote:C
Indy2thaWindy wrote:
gold_leader64 wrote:I remember reading an article about the rocky situation with the team in indy, and the possibility of it being sold and/or moved. Is there any updates to this? How is it working out?

We signed a deal before the season started to be here for 3 more years. By then the Colts will suck, and everybody will be coming to the Pacers games.

How you figure the Colts will suck?

Because they didn't do well this year, and they come and go with Manning, and he is on the downside of his career. Without Manning, they don't have a winning season.

captaincrunk · Post #7 » by **captaincrunk** » Mon Jan 10, 2011 8:29 am

If Louisville gets their team, I wonder what that will mean for the future of the Pacers.

colts2004 · Post #8 » by **colts2004** » Mon Jan 10, 2011 12:41 pm

Downside of his career? He had probably one of his best years ever. Most yards, 2nd most TD's, most completions and still completed 66.3% of passes. Only reason we went 10-6 is because we were missing so many pro-bowl caliber players.

Peyton still has many good years left. Even when he does retire, I would bet he would plan his retirement with the Colts front office so they can draft a QB in the first round.

Bill Polian is a god, we will be ok!

colts2004 · Post #9 » by **colts2004** » Mon Jan 10, 2011 12:42 pm

captaincrunk wrote:If Louisville gets their team, I wonder what that will mean for the future of the Pacers.

Lousiville getting an NBA team? Where did this come from

Wizop · Post #10 » by **Wizop** » Mon Jan 10, 2011 12:59 pm

ownership is solid. Mel Simon died but brother Herb is committed to the team. the issue comes after Herb as the next generation of Simon's seems not to have the same commitment and the team has been losing a ton of money. some of that is management as they have far too many staffers but the root cause is empty seats.

colts2004 · Post #11 » by **colts2004** » Mon Jan 10, 2011 2:20 pm

The next generation only seems interested in money. Hopefully Herb can keep things going in the right direction so when something happens to him, the Pacers are in good hands. Maybe sell them to the Irsays! lol

Wizop · Post #12 » by **Wizop** » Mon Jan 10, 2011 2:51 pm

Forest Lucas is probably a more realistic option.

Post #13 » by **Scoot McGroot** » Mon Jan 10, 2011 3:18 pm

Wizop wrote:Forest Lucas is probably a more realistic option.

That's actually a really interesting question. I don't think he's a realistic option as a total owner, but maybe as a 51% majority, or something like a 25% minority owner.

colts2004 · Post #14 » by **colts2004** » Mon Jan 10, 2011 4:08 pm

Well Forest just spent some more money in Indy, 20 year $120 million to sponser ORP in Clermont

Starkiller · Post #15 » by **Starkiller** » Mon Jan 10, 2011 4:16 pm

captaincrunk wrote:If Louisville gets their team, I wonder what that will mean for the future of the Pacers.

Living in New Albany, I'd still love the Pacers, but I'd love the Louisville team too. I'm just a fan in general. But I don't think it would hurt the Pacers, as most people here are more concerned with UofL and UK.

Post #16 » by **Scoot McGroot** » Mon Jan 10, 2011 5:04 pm

Louisville is not getting an NBA team before Seattle, Las Vegas, St. Louis, etc. There are much better options out there, including places like San Diego.

Starkiller · Post #17 » by **Starkiller** » Mon Jan 10, 2011 5:28 pm

Scoot McGroot wrote:Louisville is not getting an NBA team before Seattle, Las Vegas, St. Louis, etc. There are much better options out there, including places like San Diego.

The only one I'd give it to you on is Vegas. The other ones, I'd say Louisville is in a better place to get a team than they are. The new arena here is incredible. A Seattle team just failed, why would they go back?

Post #18 » by **Miller4ever** » Mon Jan 10, 2011 8:10 pm

^^I think you should do some more research on what happened there. Basically, Seattle's team was stolen even though the market there is good. I would give them the best chance of getting a team back, then Las Vegas.

Wizop · Post #19 » by **Wizop** » Mon Jan 10, 2011 9:08 pm

someone recently suggested Lexington rather than Louisville. maybe it was Patino. both cities have big arenas though. from a rivalry point of view, I'd love to see the KY Colonels return whether they played in one city or were a regional franchise playing games both places.

the Hornets are now owned by the league. I assume that they'd like to find solid owners whether that moved the team or not.

Starkiller · Post #20 » by **Starkiller** » Mon Jan 10, 2011 9:58 pm

Miller4ever wrote:^^I think you should do some more research on what happened there. Basically, Seattle's team was stolen even though the market there is good. I would give them the best chance of getting a team back, then Las Vegas.

I admit I don't know all the details, but there had to be a reason to take them out of Seattle right?