INDIANAPOLIS (AP) - An Indiana Pacers official says the negotiations that led to a deal keeping the team at Conseco Fieldhouse for the next three seasons were the most difficult he’s ever been involved in.
Pacers Sports and Entertainment president Jim Morris said Monday the team had hoped negotiations that began two years ago would lead to a 20- to 30-year agreement.
But the parties could only agree on a 3-year deal under which the city will pay $10 million a year for three years to help run the 18,000-seat arena.
The new agreement is an addition to the existing contract, which runs until 2019 and includes other fees if the Pacers decide to leave early.
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