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The impact of the economy continues to be felt in the sports world as the Indianapolis Colts have announced that 25 jobs have been cut. The team issued a statement this week but did not specify which jobs were being eliminated.

The announcement comes on the heels of team president Bill Polian’s indications that the team will struggle to overcome the salary cap restrictions for the upcoming season. 2009 is the final year of the current cap structure and new rules will ironically cause teams to endure larger cap hits for cutting players to stay under the cap.

However, fans might not easily feel sorry for the Colts front office. The team had a league leading 15.8% increase in attendance this year. with seven straight trips to the playoffs and moving from a 60,000 seat stadium to a 75,000 seat stadium, the Colts would appear to have it made. The economic reality is that both the city and the team is hurting from the economic realities of the day.

The Capital Improvement Board, which runs Lucas Oil Stadium, has announced that they ran a $25 million deficit on the stadium this season. That number is expected to balloon to $43 million next year. with city and state coffers looking drained, it’s not clear how the shortfall will be addressed. as layoffs pile up in Marion County, don’t expect taxpayers to agree to pick up the tab.

Locally, the economic impact has been felt by the Indy Racing league and the Indianapolis Motor Speedway. Both have cut jobs in recent weeks. in the NFL, the Browns, Patriots, and Redskins have laid off workers as well. Major League Baseball has cut jobs in its front office and individual teams (Blue Jays 40, Diamondbacks 31) are trimming payroll as well.

Could the belt tightening even hit the Super Bowl? you bet! Tickets that went for $10,000 a year ago are selling on websites like Stub Hub for around $3,300. part of that could be the teams involved. Pittsburgh and arguably the worst franchise in the history of the NFL, the Phoenix Cardinals, will battle for the Lombardi trophy this year. Neither team is inspiring the time of fan fever a major market franchise brings to the event.

Far before the two teams were known, however, the belt tightening was evident. big splash parties thrown annually by Playboy and Sports Illustrated won’t be part of this year’s fun. The last time the Super Bowl was in Tampa, the Florida Aquarium hosted four parties. this year, they are hosting none.

Other indications of a new Super Bowl economy: there are at least a dozen name brand hotels in the Tampa area with vacancies and rooms under $200. Media day saw fewer reporters as newspapers, sports radio, and television stations slash their budgets.

So, the Indianapolis Colts struggle is not unique in the world of sports. but, the solutions will take a unique perspective if the Colts and Lucas Oil Stadium are going to remain economically viable.

Indianapolis Colts and Lucas Oil Stadium Share in Economic Woes

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