The Indianapolis CIB will extend their deal with Pacers Sports and Entertainment for another year while working on a long-term solution.
The Indianapolis Capital Improvement Board, which runs Indy's sports and convention center facilities, agreed to extend the deal with the Indiana Pacers, essentially adding a year to the 3-year deal that expired this year. The CIB will pay the Pacers $10 million in two separate payments while the two parties try to work out a long-term deal.
Pacers Sports and Entertainment runs Bankers Life Fieldhouse so the CIB is working with the Pacers to help manage the Fieldhouse. This money does not go into the Pacers basketball fund to go out and find another point guard.
Help should be on the way for the basketball side of the ledger as well with the NBA's new revenue sharing model. According to Sports Business Journal, the Pacers project to gather upwards of $20 million next year in revenue sharing under the new CBA agreement. If that is the case, the Pacers will be in far better shape to compete among big market NBA teams in the years to come since other future salary cap penalties will make it hard for teams to stockpile high-priced talent.
Check out the links:
- Ben Hansbrough Gets Opportunity at Backup Point Guard | THE OFFICIAL SITE OF THE INDIANA PACERS
- Pacers' Vogel demotes Augustin, moves Ben Hansbrough into back-up PG role | Indianapolis Star | indystar.com
- Pacers: The switch has been made, but will it help get more wins? | Pacers Insider | The Indianapolis Star | IndyStar.com
- Pacers coach Frank Vogel confirmed Monday that Ben Hansbrough is replacing D.J. Augustin in the second unit - fox59.com
- City, Pacers extend Bankers Life Fieldhouse contract for one-year, $10 million | Indianapolis Star | indystar.com
- CIB, Pacers reach short-term deal - 13 WTHR Indianapolis
- CIB votes to extend Pacers deal by one year | 2012-12-10 | Indianapolis Business Journal | IBJ.com
- RTV6 - Indianapolis Capital Improvement Board approves 1-year contract extension with Indiana Pacers - Sports Story
- Upcoming NBA tax threatens dynasty in South Beach - Ian Thomsen - SI.com
- Kyrie Irving Expected to Play Against Los Angeles Lakers, Cleared by Doctors - Fear The Sword
- Paul George’s 34-Point Outing Last Week Gave Him a Quirky Stat Crown | 8 Points, 9 Seconds
- "Shop With the Pacers" a Hit With the Kids, Players | THE OFFICIAL SITE OF THE INDIANA PACERS