One small and slightly worrying loophole has emerged in the Indiana state senate’s plan to give the Indy Eleven minor-league soccer team $20 million for renovations to their current stadium at IUPUI instead of the $82 million new stadium that they wanted. Per the Indianapolis Star:
The details of the renovations haven’t been ironed out, Morrison said. But Indy Eleven would have to cover expenses beyond the $20 million and whatever the city of Indianapolis contributes, if anything.
Yes, well, whether the city of Indianapolis is going to be required to kick in more money would be an important detail, now wouldn’t it? The current bill also requires Indy Eleven to sign a 20-year lease, but could contain a buyout clause if the team wants to leave early, which depending on how it’s worded could be used by the team to demand more stadium subsidies down the road, as Hoosiers should be all too familiar with. So while cutting the immediate public subsidy from $82 million to $20 million is nice and all, let’s get a look at the actual lease language before we cheer too loudly for the Indiana senate for doing the right thing.