- Associated Press - Wednesday, December 10, 2014

INDIANAPOLIS (AP) - Concert promoter Live Nation Entertainment has reached a deal to buy the Old National Centre in downtown Indianapolis from the Murat Temple Association.

The 105-year-old landmark has been affiliated with the Shriners since its construction, although Live Nation began operating its 2,600-seat theater and other performance venues in 1995.

Live Nation told the Indianapolis Business Journal that Shriners International must still approve the sale, which could be completed late next year.

William Rasner, potentate of the Murat Shriners, told The Indianapolis Star that the group hadn’t considered selling the building until Live Nation approached with an offer.

“We have known for many years that our facility has been much larger than we needed,” Rasner said. “After much consideration, it was decided that we should move forward.”

Terms of the sale weren’t disclosed.

The building’s architecture is based on temples found in the Middle East and Egypt. Features of the building include stained-glass windows, terra cotta trim, minarets, and brown and yellow brick banding.

The sale comes after the Shriners sued Live Nation in 2010, challenging the company’s decision to sell naming rights for the building to Evansville-based Old National Bank. Courts later dismissed the lawsuit that sought to restore the Murat Centre name to the building.

California-based Live Nation already owns the 24,000-seat Klipsch Music Center in Noblesville, a northern Indianapolis suburb.

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