Indianapolis council approves $300M subsidy for Pacers arena renovation

According to the Associated Press, city officials in Indianapolis are signing off on a deal nearing $300M in public subsidies in order to fund the renovation of the Pacers’ downtown arena, Bankers Life Fieldhouse.

Council members reportedly voted in favor of the deal unanimously, with the Pacers promising to stay at Bankers Life for 25 more years in consideration of the public money. The project includes building a year-round outdoor plaza next to the arena and interior updates.

The funding/renovation plan includes $270M from the state and local income and sales taxes generated by several nearby hotels, with the city of Indianapolis committing $25M to the project and the Pacers contributing $65M.

There’s more news out of the Central Division this evening:

• Marc Stein of the New York Times is reporting that the Bucks are adding veteran assistant coach Chad Forcier to Mike Budenholzer‘s coaching staff. Forcier worked with Budenholzer in San Antonio under Spurs head coach Gregg Popovich.
• Big man Christian Wood, recently claimed by the Pistons after being waived by New Orleans, has become the front-runner to take the 15th roster spot in Detroit, according to Keith Langlois of Pistons.com.
• Per Scott Agness of The Athletic, the Pacers’ reported one-year deal with center Amida Brimah has a partial guarantee.