Excellent read and dead on the money
As things now stand, the CIB said it is willing to take over the operation of the building, but understandably has certain conditions it wants affixed:
First, CIB officials want control of the building, which would help them in myriad financial ways. Their dollar, their facility, right? But the Pacers, at least for now, won’t move. They want control, want their own people running the place, and neither side has yet budged.
Second, there’s the issue of revenues. The CIB — again, understandably — believes it’s entitled to some or all of the non-Pacers-related revenues that come from Conseco. The Pacers seem to believe the CIB should pay the mortgage on their house, and they should enjoy all the equity that accrues.
You cannot beg for help and dictate the terms of the bailout at the same time. Not the way it works.
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