Friday, September 12, 2008
Time To Pay Up, Irsay
According to Forbes Magazine, the value of the Indianapolis Colts jumped from 21st in the NFL to 8th because of the new Lucas Oil Stadium we paid $720 million to build for the team's owner, Jim Irsay. The Colts franchise is now worth $1.076 billion. The Colts pay us no rent and nothing for the operating and maintenance expenses for the costly stadium. The City of Indianapolis is broke and simply can't afford this stadium. It's time for him to step up and pay something, acknowledging that the taxpayers were never represented at the negotiating table when this one-sided stadium deal was cut during the administration of Mayor Bart Peterson.