NBA

Report: Pacers granted approval to build new $50 million practice facility

May 18, 2014; Indianapolis, IN, USA; The Indiana Pacers are introduced before game one of the Eastern Conference Finals of the 2014 NBA Playoffs against the Miami Heat at Bankers Life Fieldhouse. Mandatory Credit: Marc Lebryk-USA TODAY Sports

May 18, 2014; Indianapolis, IN, USA; The Indiana Pacers are introduced before game one of the Eastern Conference Finals of the 2014 NBA Playoffs against the Miami Heat at Bankers Life Fieldhouse. Mandatory Credit: Marc Lebryk-USA TODAY Sports

The area surrounding Bankers Life Fieldhouse is getting a slight makeover.

The Indiana Pacers received unanimous approval to build a new $50 million practice facility across the street from their arena, according to the Indianapolis Business Journal.

"Pacers Sports & Entertainment would like to build the five-story facility on city-owned land on Delaware Street now occupied by an elevated employee parking lot," the Indianapolis Business Journal writes. "The 130,000-square-foot facility would include a practice gym and office space."

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The Pacers will use the new building as their primary practice facility -- leaving the current one in

Bankers Life Fieldhouse to the Indiana Fever -- and as a recruiting tool for prospective free agents, as teams are now selling players on their state-of-the-art training facilities.

The practice facility should be completed in 18 months to two years.

(h/t Indianapolis Business Journal)