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City leaders ready to approve deal for Pacers
By: Staff  Writer - AP
Published: 4/14/2014  at  4:15:24 PM
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INDIANAPOLIS (AP) - City officials are expected to approve a deal Monday that will keep the Pacers in Indianapolis for 13 more seasons.

Indianapolis' Capital Improvement Board is a quasi-governmental agency that helps run Bankers Life Fieldhouse, home to the Pacers and WNBA's Indiana Fever; Lucas Oil Stadium, home of the NFL's Colts; and the city's convention center.

Terms of a new Pacers deal call on the board to pay $3.7 million annually for fieldhouse operating expenses and another $7.1 million, with a 3 percent annual escalator clause, in reimbursements for management of the arena. It also calls for $26.5 million in capital improvements and $7 million to replace scoreboards and other ''major systems.''

City leaders get ''right of first offer'' if the heirs of Herb Simon's estate try to sell the team.

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