December 20, 2004
Indy gambles on Colts stadium
I don't know what you look for in a mayor, but for me the most important thing is showmanship. And in this category, all city pols must bow down to Indianapolis Mayor Bart Peterson, who made the official announcement of his $500 million, retractable-roofed Colts stadium proposal on the field of the RCA Dome before yesterday's sold-out Colts game. "We have a deal!" shouted the mayor, as he and Colts owner Jim Irsay thrust their arms roofward. (The crowd let out an apathetic sigh. No, seriously, what do you think they did?)
With the important matter of how much money Peterson wants to throw at Irsay settled, now only details remain - like where to find $500 million. The mayor's plan would have the Colts kicking in $100 million in cash, with the other $400 million coming from the proceeds of legalizing slot machines in Indianapolis. The Indiana legislature would need to approve the plan, and its prospects there are uncertain. A slot-machine bill failed in the legislature last year, and Assemblymember Michael Murphy told the Indianapolis Star: "A downtown casino would be controversial because it's a clear expansion of gambling. I'm sure the riverboats would fight it." The Indiana Coalition Against Legalized Gambling isn't real thrilled about it either.
Posted by: Michael at December 20, 2004 04:58 PM
