IU official: Indy Eleven stadium would cost $50M to $60M

The price of a potential stadium for the Indy Eleven is going up.

An Indiana University official told lawmakers Monday it would cost $50 million to $60 million to build a stadium suitable for a professional team with ambitions to play in the first division of American soccer.

Tom Morrison, vice president for capital planning and facilities, made the comments at a conference committee for a bill that passed the Senate as a $20 million renovation of Carroll Stadium at Indiana University-Purdue University Indianapolis.

The money would come from taxes captured at the stadium and at a Downtown hotel being developed by team owner Ersal Ozdemir.

The bill that passed the House was for an $80 million stadium at an undetermined Downtown location.

Rep. Todd Huston, R-Fishers, who sponsored the bill, said IU, the team and the city would have to pay for anything above the state's $20 million. He said he isn't sure it will happen.

"If the bill were to pass, we'll give them an opportunity," Huston said. "They may not be able to make it work. We're just trying to outline the contribution we're going to make."

Morrison said after the hearing that IU could add funding only "around the edges to make all this work."

"It is not something that's on our radar screen in terms of funding anything at that level," Morrison said. "We're willing to be partners on this. But on a normal day, we wouldn't be trying to build a major soccer stadium."

That would leave the city and team and a large balance left on a potential stadium. Paul Okeson, vice president of Ozdemir's Keystone Group, said the team would wait for the final bill and "see if we can work a deal."

The legislative session ends April 29. The House and Senate would have to pass the conference committee's new version of the bill.

Morrison praised Indy Eleven as a good partner that uses IUPUI's campus at a time that otherwise would be quiet --- Saturday nights. The team is in its second season at Carroll Stadium, which had relatively minor renovations before last season.

Morrison told lawmakers that Carroll Stadium, built in 1982, is "in desperate need of repair" and that a new, midsize stadium would fill "a gap in our community in terms of (sports) venues that size."

Asked about concerts at a new facility, Morrison described that business as difficult, adding, "I wouldn't build a financial model around it."

That, however, is what the team did in its initial pitch for an $80 million stadium. It estimated that almost 25 percent of admissions tax money would come from concerts.

Morrison also spelled out the school's position on the track at Carroll Stadium: It needs to stay. He said that's because of how much it's used by IUPUI and the community.

Rep. Justin Moed, D-Indianapolis, expressed concern about limited space around the stadium for economic development from the investment.

Call Star reporter Mark Alesia at (317) 444-6311. Follow him on Twitter: @markalesia.