4/25/2008

Colts Stadium in the news

It seems that I am not the only one concern about how much money the Colts and Mr. Irsay will be making on the new colts package.
http://www.advanceindiana.blogspot.com/ has an posting on it from the Indianapolis star. I will say it again folks I have never seen a contract like the one the city has signed with the colts. Did you know if this deal falls thru in the future, that the Colts and Mr. Irsay are NOT responsible for the money they borrowed on the bond issue? That no property or salaries of the Colts or Mr. Irsay can be held for collateral on any debt of this bond issue.
Who is going to get stuck with the ten million upkeep on this new state of the art stadium? I bet that it will be us the taxpayers while the Colts and Irsay enjoys the big income.
We keep hearing of how this deal will bring billions of dollars to Indianapolis while the taxpayers foot the bill.

“The CIB doesn't want you to know how much the Colts are making
off of Lucas Oil Stadium at your expense because it knows just how
outraged you will be when you learn those figures. The important point to
be made in all of this is the fact that the CIB has no means of paying for the
operating and maintenance expenses on the new stadium, which are expected
to top $10 million annually. That's because the deal the CIB negotiated with
the Colts is so one-sided it gives all revenue-producing opportunities to the Colts,
depriving the public of any of the benefits. As far as this writer is concerned, the
Colts had better plan on giving back some of that money. We the public will be
damned if we dig any further into our pockets to subsidize their billion-dollar
franchise.”
http://www.advanceindiana.blogspot.com/

2 comments:

Bart Lies said...

See also:

http://indytaxdollars.typepad.com

Anonymous said...

We need to dissolve the CIB and to rescind the Colt's stadium deal. Enough of the CIB spending other people's money.