Press Release from Indy Eleven:
INDIANAPOLIS, Ind. – The Indiana House voted 73-21 today in favor of House Bill 1273 to enable construction of a new 18,500-seat multipurpose stadium proposed for downtown Indianapolis. The stadium would serve as a permanent home for all Indy Eleven Professional Soccer games and more than 30 other sports and entertainment events to be held every year starting with the venue’s anticipated opening in 2017.
“Indy Eleven appreciates the time that members of the House put forth to consider the merits of House Bill 1273, and we’re pleased to have such momentum as we turn our focus to the Senate,” said Indy Eleven President/General Manager Peter Wilt. “We also thank the legions of soccer fans from around Indiana who have reached out to support our efforts to build a permanent home for the fastest growing sport in the nation.”
HB 1273 was filed by Indiana State Representative Todd Huston (Fishers – District 37) to extend a sports and entertainment development area to include the future stadium site and a new downtown Indianapolis hotel to be developed by the owner of Indy Eleven.
Sales and income tax revenues generated at the stadium site would go towards payment of the venue’s construction costs, as would a payment of 10 percent of ticket revenues from events by Indy Eleven. While KSM Consulting’s stadium feasibility study concluded these revenue streams would pay for the venue’s construction debt, it has been proposed that a portion of the new taxes generated by the new hotel site could be used only if necessary to provide greater security for the stadium’s financial mechanism.
The bill received strong bipartisan support from the House Ways and Means Committee earlier this session when it was approved by a vote of 20-3.
If approved by the Indiana General Assembly, the proposed funding mechanism will not result in any increase in city or state taxes, nor will it divert taxpayer dollars earmarked for services or programs funded by the City or State.
The proposed stadium and hotel development is expected to generate significant economic activity, which may attract new businesses and encourage existing businesses to remain or expand in central Indiana; protect and increase state and local tax revenues; and encourage overall economic growth.
Including Indy Eleven games, the stadium is expected to host at least 50 events annually.
The projected $82 million cost to construct the facility is considerably less than similarly sized venues geared towards soccer that have been built throughout North America in the last 10 years. Indy Eleven sold out all 14 of its home games in 2014 with an NASL-leading average attendance of 10,465 fans, proving that the people of Indiana will support soccer at the professional level.
“We’re excited and encouraged by today’s vote as a significant step forward for Indy Eleven fans, and for all fans of soccer from around the state,” said Ersal Ozdemir, owner of Indy Eleven and Keystone companies. “We look forward to working with the Senate and continuing dialogue that will make the bill more effective so that we can bring this world-class facility to the people of Indiana.”
To avoid any perceived conflict of interest, Ozdemir has publically stated his construction company, Keystone Construction, will not serve as the venue’s contractor.
Details about the stadium proposal can be found at www.stadiumforindiana.com<http://www.stadiumforindiana.com/>, including renderings of the potential design created by world renowned stadium architecture firm Populous. The site also provides suggestions for how supporters can get involved.