Gambling to help pay Indianapolis stadium

INDIANAPOLIS, Dec. 20 (UPI) -- Slot machines in Indianapolis would be key to financing a $500-million, retractable-roof football stadium, said the mayor and Indianapolis Colts owner.

"We have a deal," Mayor Bart Peterson and Colts team owner Jim Irsay told the crowd of more than 55,000 attending the Colts and Baltimore Ravens game, Sunday.

However, the debate over expanding gambling in Indianapolis and financing the stadium will be considered in the Statehouse when the Legislature reconvenes in January, reported the Indianapolis Star Monday.

Parts of the financing plan for the stadium -- the plan calls for the city to build a 63,000-seat stadium that would expand to 70,000 in time for the 2008 NFL season -- must also clear the city-county council.

The Indianapolis Colts are to sign a new 30-year lease.