The 30-year deal also would allow the city to expand the Indiana Convention Center, which is adjacent to the RCA Dome, the Colts’ current home. The overall scheme will bring the cost up to about $800million.
The stadium is scheduled to open by autumn 2008 and will include a retractable roof.
The new stadium would allow the city to bid on Super Bowls as it can be expanded to hold 70,000, the minimum required to host a Super Bowl.
The RCA Dome has the smallest seating capacity among current NFL stadiums at 55,506.
