View Full Version : Colts may be out in the cold

04-04-2009, 04:49 PM
The economy has hit hard and the Colts can't make expenses for their new stadium. Like Obama's bail out and tax and tax plans, the state legislature is in session trying to figure out how to screw the tax payer and fans to the max......and to spread the wealth from the Colts to the Pacers. As usual, the only ones that can't just print money or steal from Peter to pay Paul is the tax payer/fan.:cool:

The largest part of the CIB's deficit comes from the higher-than-expected operating costs for Lucas Oil Stadium.

The previous board, appointed by then-Mayor Bart Peterson, didn't budget enough money, at least partly because it didn't know how much operating the new stadium would cost.

The CIB now estimates a total of $26 million in operating costs -- $10 million for salaries of stadium workers, $5 million for utilities, $5 million to the Colts and $6 million for other services, such as game-day setup.

The bailout bill would double the wholesale tax on beer, wine and spirits, raise local hotel and motel taxes from 9 to 10 percent, boost the food and beverage tax a quarter of a percent and increase the tax on stadium and Conseco Fieldhouse tickets from 6 to 10 percent.

The bill also assumes $5 million a year each in contributions from the Colts and Indiana Pacers.

Pacers Chief Operating Officer Rick Fuson has been upbeat about the NBA franchise's part of the deal, possibly because the Pacers would be able to get out of their current $15 million commitment to operate Conseco Fieldhouse.

But the Colts have made no promise to pay anything. Colts President Bill Polian said Thursday that the team would discuss what it might consider paying.

"We look forward to working with you and your colleagues in the Legislature in taking a look at this problem and in sharing with you data and information that we will make available to you," he said.

Debate on the bill will resume next week.

[LINK (http://www.theindychannel.com/money/19090648/detail.html#-)]

04-04-2009, 06:21 PM
I'm pretty sure Peyton Manning can spare a few bucks.

04-04-2009, 06:33 PM
I'm pretty sure Peyton Manning can spare a few bucks.

Believe me, it ain't comin' outa HIS pocket.:twocents:

04-04-2009, 06:39 PM
So what happens to the Colts in that situation? The RCA dome was demolished, I think.

gg no re
04-04-2009, 06:40 PM
LA Colts?

04-04-2009, 08:45 PM
LA Colts?

Yeh, in California that is already 50 billion dollars in the hole.........those people will be falling all over themselves to fund and support a new team...........with after food dollars...........:gun:

04-04-2009, 08:48 PM
LA Colts?

Matamoros Colts? Drug money has to laundered somewhere.