NFL, not city, loaned money to Colts

Dateline: Tue 28 Apr 2009

Gary Welsh of Advance Indiana sent an email last night, clarifying information in the Forbes article that was posted here. Welsh's concern is that Forbes indicated the city of Indianapolis loaned money to the Colts, While the city contributed to a jackpot of $100,000,000, it was the National Football League that made its contribution in the form of a loan.

This morning, Gary sent a quote from the Star's editorial that got it right:

"With due respect, the Colts struck a splendid deal. Nearly 90 percent of the Lucas Oil Stadium cost was covered by taxpayers, and the $100 million that the Colts have been brandishing as their share came largely from the city (to buy out the RCA Dome lease) and the National Football League (in the form of a loan)."

I wonder who suggested the city approach Colts owner Jim Irsay with the idea that the team could offer financial support to the arts or Black Ezpo. Sounds like the perfect guilt trip suggestion to me...and an opportunity for Irsay to "make nice."


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