13 WTHR - Indianapolis News |Indianapolis may look to extended gambling to help keep Colts

Indianapolis may look to extended gambling to help keep Colts

Mary Milz/Eyewitness News

Indianapolis, Nov. 9 - "It's always been no question in my mind that we would get something done." Indianapolis Colts owner Jim Irsay is close to a deal with the city that includes a new stadium tied into an expanded convention center, reason for fans to cheer.

But who pays? Irsay says to look for the Colts and NFL to pick up part of the tab, how much? "That's what we're trying to work out in the next month or so as we go forward."

Mayor Bart Peterson remains mum on the tax and financing package he'll take to the general assembly "because I don't want people arguing about financing when we don't have a deal."

But he says everything remains on the table except property taxes. Options include raising taxes on hotels, restaurants and car rentals, increasing the countywide sales tax and even selling naming rights to a new stadium.

Another possible way to help foot the bill is expanded gambling in downtown Indianapolis. Like the horse racing industry, the mayor supports slot-like pull tab machines for certain Indiana tracks and OTB facilities with the city getting a cut. "Like everything else, it's one of the many options on the table."

But like the other funding options, it now depends on a Republican governor and legislature.

State Representative Mike Murphy (R) says, "Nobody wants to see the Colts leave anymore than the Pacers, but the Simons were creative in financing Conseco and I hope the mayor is as creative."

The mayor hopes to announce a deal and a financing package in the near future. He says the sooner the better.

The estimated cost of an expanded convention center and new stadium is $750 million.