Marsh Supermarkets sponsored the event for the past 35 years, but the grocery store chain filed for bankruptcy earlier this month.
The Indianapolis Symphony Orchestra saw an 18-percent jump in ticket sales in the 2013-14 budget year and a $266,000 surplus.
Indianapolis Colts owner Jim Irsay and Indiana Pacers owner Herb Simon are giving the ISO $1.5 million collectively.
Negotiations between ISO and its musicians over the weekend failed to come to terms.
Graef says he doesn‘t understand why ISO has publicly announced that it has "workable solution" on a new contract offer when the union already rejected it.
The Indianapolis Symphony Orchestra and its musicians are in contract negotiations that have prolonged for more than a month.
An IU arts administration lecturer says the Indianapolis Symphony Orchestra's lockout will cause a ripple effect throughout the economy.
The Indiana Symphony Orchestra locked out the orchestra's musicians after union negotiations failed.
The Indianapolis Symphony Orchestra is canceling its first two weekend performances after contract negotiations with the union broke down Saturday.
The orchestra says its budget deficit is $10 million, while the union says it is less than $1 million.