The news media never tells the public that the Simons can only move their team to another city if the Simons find a buyer and sell the franchise, and even if they can manage to pull that off, they will still have to pay at least a $50 million penalty to the City for breaking the lease. As I see it, it's a win-win situation if the Pacers actually sold their useless NBA team and got the hell out of town. We can find plenty of higher priority things on which to spend that big penalty money than forking over more subsidies to the state's wealthiest family. Don't get your hopes up though. This is all just posturing on the part of the CIB to make it look like they are trying to drive a hard bargain after this blog exposed the potential for collusion between the negotiator who supposedly represents our interests and the Simons. With FBI agents asking a lot of questions of corrupt local pols as of late, perhaps these self-dealers decided it might be in their interest to cool their heels a bit for now.
Woudn't it be nice if we had someone in our city government that has the good sense of Las Vegas, Clark County, Nevada where the Controller came to the following conclusion in recommending against a new publicly funded arena to lure an NBA team to the city:
Numerous studies have come to the conclusion that the economics of an arena with sports franchises are worse than without. The primary reason is that the team owners and athletes tend to be the recipients of significant portions of the arena revenue streams and spend those monies outside the metropolitan area.Amen. Check out the findings of Clark County's Controller here. It essentially reaches the same conclusion this blog has been trying to tell you for the last couple of years about these huge public subsidies to lure professional sports teams to this city. It is a lose-lose proposition. The Simons don't live in Indianapolis, and most of their NBA players live and spend their huge salaries elsewhere. The Pacers are a huge economic drain on the city.