Lucas Oil Stadium
Backstory and Context
Lucas Oil Stadium was named the 2009 Sports Facility of the Year by Street and Smith’s Sports Business Journal, and have had their Field turf surface ranked as the NFL’s best artificial surface in both 2009 and 2010. The stadium covers approximately 1.8 million square feet and welcomes nearly one million visitors each year to concerts, national conventions, trade shows, IHSAA tournaments, and national and local sporting events. There is a pedestrian connection between the stadium and the expanded Indiana Convention Center.
The stadium complex and the recent expansion of the Indiana Convention Center was the result of work done by the Indiana Stadium and Convention Building Authority. The estimated cost of the stadium was $720 million, mostly financed by revenue from the state, county, and city. The Indianapolis Colts provided $100 million while Lucas Oil Products acquired naming rights at a cost of $122 million over 20 years.
Lucas Oil Stadium is operated by the Capital Improvement Board of Managers of Marion County (“CIB”). Marion County created the Capital Improvement Board (CIB) in 1965 with the help of the Indiana General Assembly. The CIB operates facilities used in cultural, recreational, and convention activities in downtown Indianapolis. Also, they are responsible for the ownership of several other sports-related facilities in downtown Indianapolis, which includes: Bankers Life Fieldhouse, home of the National Basketball Association’s Indiana Pacers, and Victory Field, where the International League’s Indianapolis Indians play their Triple A baseball schedule.
Forest Lucas purchased naming rights for the stadium after its construction. Lucas spent 20 years building a nationwide long-haul trucking fleet and also established Lucas Oil Products. The company continues to operate a plant in Corydon, Indiana but moved to Corona, California in 1986.