The Indiana Pacers’ Bankers Life Fieldhouse arena is set to undergo a series of major improvements after the NBA team agreed to stay in Indianapolis.
The new agreement funds operating expenses, technology improvements, and capital projects, including a new outdoor plaza and social gathering areas.
The deal includes $360 million for capital improvements comprised of an estimated $270 million from state and Capital Improvement Board of Managers (CIB) sources and $65 million of private investment from Pacers Sports & Entertainment, including real estate purchases needed to construct an outdoor public plaza.
The City of Indianapolis also is contributing $25 million for public infrastructure needs. The plan also includes investments in future technology capped at $113 million.
Construction will be completed in three phases:
Phase 1 will focus on interior renovations and is scheduled to run from February 1 to October 1, 2020. The building will be closed for events from the end of the 2019-2020 Pacers season through October 1, 2020.
Phase 2 includes an entry pavilion expansion and exterior construction along with additional interior renovations, which will take place after the 2021 NBA All-Star Game until December 31, 2021. The building will be closed for events from the end of the Pacers 2020-2021 season through October 1, 2021.
Phase 3 construction will take place between January 1 and October 1, 2022, to complete the entry pavilion expansion, exterior plaza and remaining interior renovations. The building will be closed for approximately 60 days in the Summer of 2022.
While the detailed project timelines have not been finalised, construction will not interfere with the 2021 NBA All-Star Game or the Indiana Pacers home basketball games.
Because the WNBA’s Indiana Fever play during the summer, home games will be played elsewhere during the 2020 and 2021 seasons and part of the 2022 season.