For leaders of the Capital Improvement Board, which runs the city’s sports venues and convention center, the city’s $2 million investment is worthwhile because it keeps the $720 million stadium, which opened in 2008, at a “top-notch level.”
Which is totally to the benefit of the city and not just the Colts, because, um. But the Colts are paying $700,000 for some new ad boards for themselves at the same time, so it’s a public-private partnership, right?
In the grand scheme of things, $2 million on top of the $715 million that the CIB already spent to build Lucas Oil Stadium isn’t really all that much. Still, coming on top of the $33 million in operating subsidies the CIB threw at the Pacers three years ago, Indianapolis just solidified its lead as national champion at throwing good sports dollars after bad.