INDIANAPOLIS---The National Collegiate Athletic Association (NCAA) and Indiana Sports Corporation (ISC) have entered into a Memorandum of Understanding that will pave the way for the NCAA to bring a number of high-profile events to Indianapolis. Included in the list of events are the Men's and Women's Final Fours, preliminary round games of the Division I Men's and Women's Basketball Championships, and the NCAA Convention. The events would be scheduled on a five-year rotating cycle. The cycle would begin after current contractual obligations for the NCAA events have been fulfilled and continue through the term of the NCAA's lease for its national office building in Indianapolis.

The Memorandum of Understanding establishes a series of milestones which ISC, working with the City of Indianapolis and the State of Indiana, must achieve in order to trigger the NCAA's commitment to bring the events to Indianapolis on an ongoing basis.

NCAA President Myles Brand noted that, "This agreement, which has been in discussion for more than a year, helps to address several of the Association's needs, the most important of which is the need to have a back-up site available for the NCAA's larger events." Under the terms of the agreement, ISC will provide the official back-up site for the Final Fours and other major events.

"Anyone who stages major events in this country has a heightened responsibility to plan for contingencies we might not have contemplated a few years ago," Brand said. "The fact that our staff is here, the quality of Central Indiana's venues, and our experience with Indianapolis, Butler and the Horizon League as event hosts made this the logical place to focus our contingency planning efforts."

The agreement will also extend the NCAA's current lease on its national office and Hall of Champions for an additional 10 years through 2039, with options on three 10-year lease extensions through 2069. "This agreement represents a natural extension of the long and remarkably successful partnership between the NCAA and our community," said ISC Chairman, Earl Goode. "The Memorandum of Understanding is tangible evidence of our commitment to continue to support the important work of the NCAA over the long term."

Other milestones that will trigger the NCAA's ongoing commitment to bring its events relate to the interest of the NCAA and the community in making sure that the NCAA's current location continues to meet the needs of the Association in the future. These include making land available for future expansion of the headquarters, as well as the creation of additional parking for the dedicated use of the NCAA.

"The relocation of the NCAA's headquarters and its Hall of Champions to Indiana has been a catalyst for the development of one of the most dynamic urban parks in the country," said Indiana Governor Joseph Kernan. "We look forward to working closely with the NCAA in the future to make sure that its home here in Indianapolis continues to meet its needs, and that the Hall of Champions in White River State Park remains a vibrant expression of the value of collegiate sports to this country's youth."

The NCAA national office moved from Kansas City in 1999, and more than 40 NCAA championships have been conducted in Indianapolis during the past two decades. Future NCAA championships already scheduled to take place in Indianapolis include the Women's Final Four in 2005 and the Men's Final Four in 2006 and 2010.

"The amateur sports industry has been a critical component in the revitalization of Indianapolis, and the presence of the NCAA is a cornerstone of that success," noted Indianapolis Mayor Bart Peterson. "Since its relocation to Indianapolis, the NCAA has proved to be an extraordinary corporate citizen whose employees have added to the quality and vitality of our community in many ways."

A recent economic impact study conducted by KPMG LLP's Economic Consulting Services indicated that the NCAA produced an annual economic impact for the State of Indiana of $63.7 million. The same study measured a $4 million annual cost savings to the NCAA as a result of its relocation to Indianapolis.

The KPMG study indicates that the five events that are referenced in the Memorandum of Understanding currently combine to produce $67 million in direct spending for the City.

Former ISC Chairman, Jack Swarbrick, said that the agreement "represents both great opportunity and challenge." "The opportunity," noted Swarbrick, "is represented by the one-half billion dollars in direct spending these events will produce for our community; the challenge is to make sure that we continue during the next 35 years to have the venues and organization required to provide the best possible experience for the NCAA's student-athletes and members when we host these events."

Indianapolis-based Horizon League and Butler University will play host to the NCAA Women's Final Four in 2005 and the Men's Final Four in 2006 and 2010, all at the RCA Dome. Indiana University-Purdue University at Indianapolis (IUPUI) will be added as an institutional host for events awarded under this agreement.

The rotation of the future events has yet to be determined and the agreement does not preclude Indianapolis from bidding on other NCAA events. In addition, the agreement calls for ISC to explore further opportunities to use Indianapolis as a site for hosting events and meetings as developed by the Association in the future.

About the NCAA

The NCAA is a membership-led nonprofit Association of colleges and universities committed to supporting academic and athletics opportunities for more than 360,000 student-athletes annually at more than 1,000 member colleges and universities. Each year, more than 49,000 student-athletes compete in NCAA championships in Divisions I, II and III sports. For more information, go to www.ncaa.org.

About the ISC

Indiana Sports Corporation (ISC) is a private, not-for-profit organization that represents Indianapolis in the national and international sports marketplace. Created in 1979 to attract national and international sporting organizations and events to central Indiana, ISC coordinates and markets major sporting events. Indiana Sports Corporation was instrumental in the process which resulted in the NCAA's decision to relocate its national headquarters and Hall of Champions to Indianapolis, and ISC supports and assists more than a dozen sport-related organizations in our city.

By targeting sports as a growth industry for Indianapolis, Indiana Sports Corporation's goals are to stimulate the economy, improve Indianapolis' image nationally and internationally, enhance the city's quality of life and provide opportunities for youth.

Since 1979, Indianapolis has hosted more than 400 national and international sporting events.

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