Indiana Pacers: Bleeding Money

by March 10, 2009

They can’t even afford the rent: “The Indiana Pacers are losing about $30 million this season and cannot continue to shoulder the millions of dollars it costs to operate Conseco Fieldhouse. That was the announcement Monday to the Capital Improvement Board from CIB Vice President Pat Early, who has been in discussions with team officials about the financial problems both organizations face. Operating Conseco Fieldhouse costs the Pacers roughly $15 million a year. If the team can’t make those payments, it would fall to the CIB, which already is struggling with a budget shortfall of $20 million this year.”