Pacers to get $3.5m arena roof on top of $350m in prior subsidies, because Indiana

And now it’s time for the incredulous tweet of the day:

Answer: Yes, the $16 million a year that Indianapolis agreed to give the Pacers owners in 2014 only covers operating costs, and specific upgrades to seating, locker rooms, and scoreboards. So $3.5 million for a new roof will be on the public tab on top of that, bringing the total subsidy for the Pacers to … let’s see, $187 million to build the arena in the first place, plus $33 million in operating subsidies for 2010-13, plus $160 million for 2014-2023, and really we should present-value all of this but I don’t have the exact spending dates — should we say $350 million, maybe? For an arena that only cost half that to build? I still say the Pacers may have the sweetest subsidy deal in all of sports, though obviously there are lots of other contenders.


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