Disappearing post? IBJ vs.Irsay

Dateline: Mon 06 Jun 2011

Hmmm..... here is a post from Indianapolis Biz Journal's Anthony Schoettle's on the IBJ’s website earlier today. As Gary Welsh of Advance Indiana says, the post discussed "how much money Irsay would make off the Big Ten tournament the city will be hosting at Lucas Oil Stadium even though he isn’t contributing anything for the costs of hosting the event."
"It ( the post) has been pulled," notes Welsh. "There were several angry comments posted, including one that claimed Schoettle had taken a shot at Irsay."
Here is the original post, written by Schoettle, from IBJ, courtesy of Welsh...a post from IBJ that is now gone:
"Nobody has more reason to smile about Indianapolis winning the bid to host the Big Ten Football Championship than Indianapolis Colts owner Jim Irsay.
"Indianapolis’ victory to host the game for the next five years means Irsay’s Colts will reap $10 million to $15 million over the period—2011 to 2015—while making little if any capital outlay to make it happen. That’s because the Colts lease with the city’s Capital Improvement Board stipulates the Colts get half of all revenue from non-Colts related events while the city picks up the tab for operations.
"The $10 million to $15 million could be conservative. Lucas Oil Stadium holds 63,000 but is expandable to 70,000. If the game puts 63,000-plus fans in the seats—which most football followers believe it will—that will generate more than $3 million in ticket revenue alone. Add the Colts’ share of $1.5 million in ticket sales to the concessions, parking and other ancillary revenue, and the Colts’ total annual take easily eclipses $2 million.
"The annual city-wide economic impact of the game is estimated at $20 million. The Colts should net more than 10 percent of that.
"And it’s an unforeseen revenue stream for the Colts. When the stadium opened in 2008, there was little discussion of even having a Big Ten Football championship, let along Indianapolis hosting such an event."

Sez Gary Welsh, on his blog Advance Indiana: "This is another example of why taxpayers must demand that the Capital Improvement Board re-negotiate its lease with the billionaire Irsay. It is utterly criminal that this man can pile up huge profits from the efforts of the CIB and ICVA to win these events for the City, while he doesn't contribute one dime to the maintenance and operating costs on Lucas Oil Stadium built entirely with our tax dollars. Our elected officials should be imprisoned for allowing this fleecing of the taxpayers to take place. We pay an exorbitant tax every time we buy food and drink in this damn town to fund these operations, while this selfish man who has never had to work a day in his life piles up a massive fortune for himself. Meanwhile, the taxpayers are struggling to make ends meet during the worst economic downturn since the Great Depression that has no end in sight. The so-called civic leaders celebrating the landing of the Big Ten championship all receive tickets, food and drinks to all of the events, while you and I have to dig deep into our pockets to attend any events at these publicly-financed facilities. They should all be holding their heads in shame at the sleazy arrangement they've brokered with this billionaire. When will someone say enough is enough?

"UPDATE (from Welsh): Too much honesty for Irsay and the Downtown elites? The IBJ has pulled Schoettle's blog post from earlier today discussing the potential windfall to Irsay from hosing the Big Ten football tournament at Lucas Oil Stadium. It's obvious someone reached his boss at the IBJ and ordered the blog post pulled. One of the comments posted on Schoettle's blog before it was pulled accused him of taking a cheap shot at Irsay. "



Whitebeard [unverified] said:

First off, thanks for posting this article, Ruth.

This Schoettle guy is a modern-day prophet. He nailed it.
As did Welsh.

If I had a subscription to IBJ, I would cancel it. But since I don't, I will just publicly write that they have lost any journalistic credibility with me.

The NFL's Green Bay Packers are publicly owned.

Go Packers!

2011-06-06 19:13:42

hendy [Member] said:

Dunno why they may have pulled that. Could've been something else. If they did, I think it was probably a mistake to do so, barring a solid reason.

No use in re-hashing why our servitude to the Colts is such a problem. No one wants to hear it. That the CIB does these deals makes the mind reel. But then, selling the Simon's World HQ space across from the State House for a pittance is just as evil.

The rich seem to be getting richer. I don't decry anyone their gain, but not at the expense of taxpayers or by gouging markets.

2011-06-06 21:28:48

Pete [unverified] said:

Valid topic of discussion, but why on earth are you giving any run to Gary Welsh? He's a conspiracy obsessed loon.

2011-06-07 07:03:02

ruthholl [Member] said:

Gary and I do not always see eye to eye, but when he gets it right, I give him credit.
Thank you, Pete.

2011-06-07 20:09:38

Pete [unverified] said:

Hopefully you didn't see eye to eye when Gary accused the President of being a cocaine addled CIA plant Kenyan Muslim tool of the New World Order conspiracy who was also a downlow gay man who murdered several people in Chicago.

2011-06-07 20:30:05

Duke [unverified] said:

IBJ has updated. Colt's split of non-colts revenue is capped at $3.5 mil. They get that much already so the Luk doesn't have to split NCAA income with irsay.

2011-06-07 20:59:20

Jason [unverified] said:

Holy crow Pete, we agree on something! Let's be friends, lol.

2011-06-08 03:01:06

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