Lucas Oil Products, a California-based company with strong ties to
Indiana, has won the naming rights for a new stadium in downtown Indianapolis.
Beginning with the 2008 season, Lucas Oil Stadium will be home to the
Indianapolis Colts, the NCAA men’s and women’s Final Four tournaments and other
major sports events.
Forrest Lucas, president and CEO of Lucas Oil Products, confirmed in a
press release that the deal is valued at $122 million over 20 years. The new
Lucas Oil Stadium replaces the RCA Dome, which has been home to the Colts since
the team’s arrival in Indianapolis in 1984.
“Lucas Oil will be a great partner for us,” said Jim Irsay, owner and
CEO of the Indianapolis Colts, in a press release. “Their enthusiasm about
Indianapolis and Indiana and the Colts is incredible and their financial
commitment will help us keep the best coaches and players on our field and
winning for our fans.”
Lucas Oil Stadium will be a three-deck, seven-level multiuse building
with a retractable roof that will seat 63,000 people for football and 70,000 or
more people for NCAA basketball, concerts and other special events. The stadium
is being built on a downtown site bounded on the north by South Street, on the
east by Capitol Avenue, on the south by McCarty Street and on the west by
Missouri Street. The stadium is scheduled to be open for the Colts 2008 season.
Forrest Lucas and his wife, Charlotte, are both Indiana natives.
Although the company moved to Corona, CA, in 1986, Lucas Oil Products – whose
product line includes oils, grease and problem-solving additives – continues to
operate a plant in Corydon, IN.