Indiana Pacers have financial problemsPosted by Inside Hoops
The Indianapolis Star (Brendan O’Shaughnessy) reports: 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.
InsideHoops.com editor says: Pacers fans don’t go see their team play. Indiana gets under 14,000 fans per home game. If I owned the team, I’d probably be looking to move or sell right about now. Though, with the current rough economy it’s hard to pull off any of that.