Indianapolis Loses $350,000 from Super Bowl

[bap1331]

http://bleacherreport.com/tb/bg0PC?utm_source=newsletter&utm_medium=newsletter&utm_campaign=indianapolis-colts

I thought the Super Bowl was supposed to bring revenue, not lose any? Maybe it went all directly to restaurants and hotels but the overall preparation cost the city $350,000.

first the loss of Peyton Manning, now the loss of money? lol

[chad72]

Jim Irsay is missing the point. We dont need more hotel space, we need more gambling joints to roll in the dough!!! lol

It sure does not help when the CVS downtown at the Monument Circle was selling $1 beer the Friday before the SB that people could stock up on instead of buying it inside the SB village.

[FireJimCaldwell]

http://bleacherrepor...ianapolis-colts

I thought the Super Bowl was supposed to bring revenue, not lose any? Maybe it went all directly to restaurants and hotels but the overall preparation cost the city $350,000.

first the loss of Peyton Manning, now the loss of money? lol

You can make more money.

You can't make another.............

[Fx Stryker]

I thought they said the Super Bowl was profitable? I guess Indy was suffering "cap" issues.

[jvan1973]

http://bleacherrepor...ianapolis-colts

I thought the Super Bowl was supposed to bring revenue, not lose any? Maybe it went all directly to restaurants and hotels but the overall preparation cost the city $350,000.

first the loss of Peyton Manning, now the loss of money? lol

The CIB lost money, not the city... The CIB paid the city 4 million for the extra man hours for the police dept. The CIB expected to lose 800k, they ended up only losing 350k.

[BrentMc11]

To have the 'balmy' weather made the difference. Regardless security, snow removal etc. was needed. This is the CIB. Regardless a big win for the hotel/downtown of Indy!! I heard nobody slam the great jobs of all 250,000 volunteers. Those are the unsung heroes!

[Malakai432]

Yeah I heard about that on the news the other day. However the national, heck even international attention it received was worth it according to some.

[Coffeedrinker]

http://bleacherrepor...ianapolis-colts

I thought the Super Bowl was supposed to bring revenue, not lose any? Maybe it went all directly to restaurants and hotels but the overall preparation cost the city $350,000.

first the loss of Peyton Manning, now the loss of money? lol

Why the negative slant on it? One, it's CIB not the city, two it's $350,000 and that is not taking into account the estimated $3 million in additional tax revenues. From it. You can try to spin it anyway you want but from the reports that came out during the two weeks leading up to the SB and now this, the Sb in Indy was a huge and profitable victory for the city.

[wercolts]

The CIB is a mismanaged joke of 9 board members that I guarantee have never lost money. Just like politicians, they have zero accountability and absolutely no skin in the game. Regardless of how well or poorly they do their job they still profit. As far as the city losing money, no it did not.

[Esquire59]

True, its misconstrued. The city and private businesses made hundreds of millions of dollars. The $350K shortfall in public safety budgeting was actually viewed as a suprisingly low loss and one the CIB is fine with. As CIB points out, a $350K loss is a small price to prove that we not only pulled off the Super Bowl, but did it better than most, if not all, other Super Bowl host cities. That will definitely bring us another Super Bowl (probably put us in a semi-regular rotation) and many more large conventions. Up up up for Indy. (Agree with Irsay though, we do need one more major downtown hotel. It may hurt some of the small/mid-size hotels downtown during off-peak times, but as conventions and other events grow, which they will, things should balance out). What a great time to be a Hoosier/Indy resident.

[Gonzo]

The CIB is a mismanaged joke of 9 board members that I guarantee have never lost money. Just like politicians, they have zero accountability and absolutely no skin in the game. Regardless of how well or poorly they do their job they still profit. As far as the city losing money, no it did not.

But in this case they did well. Because the total bill was half a million dollars less then expected. 300k in expenses for a return of millions not to mention the prestige of the event. Big win for the CIB and the city of Indianapolis.

This is just an expense report.

[Smonroe]

To have the 'balmy' weather made the difference. Regardless security, snow removal etc. was needed. This is the CIB. Regardless a big win for the hotel/downtown of Indy!! I heard nobody slam the great jobs of all 250,000 volunteers. Those are the unsung heroes!

Except that poor mother from The Middle.

[Andy]

darn, well 350,000 isn't a lot, but you don't want to be breaking even (essentially). You want to be making millions. I think they'll learn from their mistakes by maybe lowering the budget. Who knows? We'll have to wait at least 6 years to see another SB. Worry about it then.

[oldunclemark]

The CIB lost money, not the city... The CIB paid the city 4 million for the extra man hours for the police dept. The CIB expected to lose 800k, they ended up only losing 350k.

and folks have to rerad the story...let me help...

"That leaves about $350,000 that will be footed by the CIB's budget -- better than the $810,000 loss that was projected based on estimates compiled last summer.

But officials point out that it's too soon to draw the bottom line yet.

The CIB still is waiting for information about boosted collections during the Super Bowl of the several hospitality taxes from which it benefits. The CIB's Super Bowl budget projected $3 million in increased tax collections in late January and early February."

So, according to this story, the final figure may say that Indy made $2,500,000 on thre Super Bowl.. Quite a good haul.

There's no way the CIB lost money...

..and the city CERTAINLY didnt....anybody downtown made heavy cash..

[Keith L. Scott]

SO... does that mean they will not put a bid in to host another Super Bowl again any time soon?

[coltsindy18088]

the SB was profitable. its not taking into account ask of the extra money businesses made and other stuff like that

[John Dee]

The CIB lost money, not the city... The CIB paid the city 4 million for the extra man hours for the police dept. The CIB expected to lose 800k, they ended up only losing 350k.

Right On... the CIB making money is of ZERO interest to me. I have several friends who work and live in the downtown area and they made a KILLING during he SB. The SB was the biggest thing to EVER happen to Indianapolis. Peyton or not playing here, this city was going to get one. And we did and as par for the course Indy rocked the house.

Indy 500

NCAA Final Fours

the SB

and on and on... This city does BIG EVENTS better than any other. And it is for 2 reasons...

1. Indiana if full of good and friendly folks.

2. Logistically, Indy is just perfect for all those fat media blowhards who don't like walking 2 miles to get "anywhere" and the fans of course.

Indy WILL get another SB. And even weather won't crash the party. Indy can handle bad weather .... unlike Dallas.

[ruksak]

SO... does that mean they will not put a bid in to host another Super Bowl again any time soon?

Absolutely we will. These numbers are cursory at best. The city was presented with extraordinarily positive exposure.

[Thewholefnshow28]

The article title is defiantly misleading. The CIB, not Indianapolis, lost 350K on the Super Bowl.

The amount of revenue people downtown brought it far exceeds the measely 350K loss the CIB had. Heck the national publicity that we received for hosting it was well worth that loss. Except for a few bitter writers who would have complained if it was anywhere but Miami or NO everyone talked glowingly of our city.

We got to show the country how good of a host city we are for large sporting events. It really helped get rid of the hillbilly, backwoods, boring city vibe that most people had about Indianapolis.

I cannot wait till we put in another bid, but sadly people are going to distort this info to attack our next bid.

[lollygagger8]

All they would've had to do is charge an extra dollar for the zip line.

Judging by that huge line, they would've made an extra Million every hour.

[BrentMc11]

All they would've had to do is charge an extra dollar for the zip line.

Judging by that huge line, they would've made an extra Million every hour.

I wonder how many people total rode that line. That is a good point....I know not a million an hour but here would be a lot of money altogether...

[lollygagger8]

You know what I mean Brent......million is over the top I know.....but they could've made a mint!

[BrentMc11]

You know what I mean Brent......million is over the top I know.....but they could've made a mint!

I know....you knew I was kidding. You made a great point. I would like the number of zip-liners...could there have been 350,000? It would make up a lot of it for sure.

[hawkeyes]

Wish I had just $35 ... no idea what I'd do with 350,000.

[HarassedOffTheSite]

Sorry but it reads like some tool trying to * the implication of defeat from the jaws of what was an obvious and overwhelming victory for the City of Indianapolis. #HandWringerFail

[Coffeedrinker]

Sorry but it reads like some tool trying to * the implication of defeat from the jaws of what was an obvious and overwhelming victory for the City of Indianapolis. #HandWringerFail

You have to know the poster. BAP was a huge opponent to getting a new stadium, he thought Irsay should have to pay for the stadium out of his own pocket (an idea I don't completely disagree with) and should also pay for all the infrastructure, public safety and then pay the city every year for the honor of keeping the stadium in the city. So if he can twist something (even something that is really very positive) to try and make it seem bad for the stadium then he will.

[HarassedOffTheSite]

You have to know the poster...if he can twist something (even something that is really very positive) to try and make it seem bad for the stadium then he will.

Roger that. ;)

[Nat1969]

The most of the time, when they said that they lost money... in reality, they projected to made ??$ money and at the end, they made less and they said that they loses $350,000... Bull%! For sure I will be at the next Super Bowl. I will booked (especially with Mardi Gras) my hotel again with http://www.14sb.com or http://www.2020hotels.com, phone 917-224-1231 . They give a excellent services! They offer Luxury Lodging and affordable accommodations for ALL EVENTS.

You can also find Hotel rooms during OLYMPICS, 2013 SUPER BOWL, FIFA WORLD CUP, FINAL FOUR, F1, Formula One, Grand * races in Austin Texas...

[Nadine]

Well, I guess you could not bring any events to Indianapolis. But I think Indy is aiming higher than that.

Sounds like a lot of people were employed/paid and local businesses made money so, that's probably good huh?

National spotlight and all the extravagant praise for the event might be good for convention business too......I'm just spit balling here

Seriously though, deceptive headline for that article. The loss was planned and was half what they were projecting so the headline should have been more like JOB WELL DONE!

[MAC]

Some of you are missing the point. Putting on an event like this is a matter of government officials deciding to invest tax dollars to stimulate business in the region - which by all accounts they succeeded in doing to a ridiculous degree. The Super Bowl would have been a resounding success if they had received ZERO in direct income against their $3 million dollar investment. The point of the story was that the NFL reimbursed the vast majority of their costs anyway, which makes the question "was it a good idea for the city to host a Super Bowl" to be an utter no brainer.

Similar discussions are held after every Olympics, etc - and those are usually far more complicated because they involve ENORMOUS outlays for the cost of the construction of multiples stadiums which are often only truly needed for the month of the event. There are no such issues in Indy for a Super Bowl, unless you care to enlarge the debate to consider the cost of LOS - part of the justification for which in the first place was probably the desire to entice a Super Bowl. And round and round you go. A very complicated topic.

More importantly,

It sure does not help when the CVS downtown at the Monument Circle was selling $1 beer

You can buy beer at CVS? You have to be kidding me.

[Nadine]

Some of you are missing the point. Putting on an event like this is a matter of government officials deciding to invest tax dollars to stimulate business in the region - which by all accounts they succeeded in doing to a ridiculous degree. The Super Bowl would have been a resounding success if they had received ZERO in direct income against their $3 million dollar investment. The point of the story was that the NFL reimbursed the vast majority of their costs anyway, which makes the question "was it a good idea for the city to host a Super Bowl" to be an utter no brainer.

Similar discussions are held after every Olympics, etc - and those are usually far more complicated because they involve ENORMOUS outlays for the cost of the construction of multiples stadiums which are often only truly needed for the month of the event. There are no such issues in Indy for a Super Bowl, unless you care to enlarge the debate to consider the cost of LOS - part of the justification for which in the first place was probably the desire to entice a Super Bowl. And round and round you go. A very complicated topic.

More importantly,

You can buy beer at CVS? You have to be kidding me.

Exactly

And we've not even tallied the hospitality tax levied on all those gazillionaires who popped into town

The CIB still is waiting for information about boosted collections during the Super Bowl of the several hospitality taxes from which it benefits. The CIB's Super Bowl budget projected $3 million in increased tax collections in late January and early February.