OT: Yum Center has cost taxpayers $450M
- Thread starter rick64
- Start date
How much income has the ul athletic dept gotten from the deal over the years? Millions going direct to their athletic program. More than has been paid on the debt service?
I believe ul gets a monetary piece of every event and concessions held at Yum which has to be novel for a tenant?
I believe ul gets a monetary piece of every event and concessions held at Yum which has to be novel for a tenant?
Not a damn thing will happen to any of the crooks who did it.
UofL keeps the profits and the tax payers foot the bill.
Kind of like a lot of pro arenas and stadiums.
The major difference being the owners of the pro teams will literally move their team to another city if you refuse to buy them a new arena.
The major difference being the owners of the pro teams will literally move their team to another city if you refuse to buy them a new arena.
No ****. Pro arenas/stadiums and professional sports teams in general are a scam.
The city’s taxpayers bore the cost of an NBA arena, but without an actual NBA tenant to fill it. Just stinkin UL, who basically got a free ride in this whole crooked deal.
Everyone knew it was a farce from jump street. This isn’t surprising. Yet UL has a plus in money making. Lmao.
Fisher, Ramsey and Jurich. The axis of evil. Still amazes me how Jurich stayed out of jail. Testimony to the crooked cops that he knew. Did not care about the citizens who are paying for their theft.
No its not like that. UL had a crooked AD who was a thief and the president looked the other way while his pockets were being lined via Jurich. The city caved to everything ul wanted just to get this arena. Fisher should have been fired as soon as the deal was signed. Jurich and Ramsey were Satan times two. You need to go back and read all of the articles from those times. Mark Mitchell not involved so you cant blame UK or Pope for this.
They basically locked out any chance of an NBA team coming to Louisville.
the original 2010 lease agreement gave the University of Louisville (UofL) sweeping scheduling control over the KFC Yum! Center. This control virtually allowed them to block out dates for basketball games, practices, and events, heavily restricting the arena's ability to schedule outside entertainment like major concerts or other sports tenants. [1, 2, 3, 4]
Under the original "hyper-favorable" terms, UofL had absolute scheduling priority. This level of control became a major point of contention when the arena began losing millions of dollars and faced the threat of default. Outside event promoters complained that they could not book the facility during prime months because UofL's blocked-out calendar left too few open windows. [1, 2, 3, 4]
the original 2010 lease agreement gave the University of Louisville (UofL) sweeping scheduling control over the KFC Yum! Center. This control virtually allowed them to block out dates for basketball games, practices, and events, heavily restricting the arena's ability to schedule outside entertainment like major concerts or other sports tenants. [1, 2, 3, 4]
Under the original "hyper-favorable" terms, UofL had absolute scheduling priority. This level of control became a major point of contention when the arena began losing millions of dollars and faced the threat of default. Outside event promoters complained that they could not book the facility during prime months because UofL's blocked-out calendar left too few open windows. [1, 2, 3, 4]
UL screwed its own city on that deal.
I live in Louisville and this is absolutely correct. Not only did it screw the taxpayers, but it also fundamentally killed any hope of a NBA team. And in my opinion, along with that, basically killed any corporate growth that the city could ever have. But hey, we have a minor league soccer team. GTF out with that nonsense.
The funny thing about it all is Jurich wanted to build the stadium on campus so the City gave UofL the sweetheart deal to bring more people downtown.
The city caved to every uofl demand on that arena. That's why it's a failed disaster for the city.
That's exactly right. Without this ridiculous UL stranglehold, this is an excellent investment for the city. Even then, the worst part is UL getting a free ride.
This is another example of Jones stirring the Cars fanbase for clicks. The arena had/has a positive massive financial impact well beyond its cost. It completely changed downtown in a way that was otherwise impossible. That led to more conference traffic, concerts, etc. All that in turn led to NULU and lots of other stuff.
As is, its still a good deal. It just should've been way better had UL not gotten that insanely sweetheart free ride.
Generally new arenas and stadiums drive up revenue in the cities where they are built. How much? That can be debated and usually depends on the city. In this case, you had a city swindled by the crooks at UL to give them total control of the arena. A NBA arena that cant find a team because UL fights if. Hell, for a long time the wouldn't allow concerts or special events there.
Moved out to Shepherdsville in 2021. Might have to go further away at some point.
Louisville used to be one of the nicest places in the country to raise a family. But you're right, the left leaning leaders have let it become the wild wild west. I hate it.
Don’t forget that if the city defaulted, UL had the right to purchase it for Pennies on the dollar.
I’d argue that the convention center expansion/bourbon boom has done way more for downtown than the YUM center.
No idea, obviously it has to do with oil as always and control of that port is huge for the global economy. Plus getting rid of the IRGC is probably at the top of the list. We just contracted a huge oil deal with Venezuela as well. World politics is controlled by the many Governments and Elites around the world. No telling their true goals.
Why trust this government over ones before? Do you genuinely believe all this is for the betterment of everyday americans?
I think Snarks had it right. The plan is to purchase it at Pennie’s on the dollar. Or at least was the plan. Ownership may now be even too rich for the school though it does appar they have done well with all their hospitals. I still haven’t figured that out.
Another layer to this is keeping the dollar as the world reserve currency. China is very much challenging this along with the other Brics nations. Hence why Iran said they wanted to sell their oil in Chinese Yen. Through the petro dollar we have the world reserve currency. If we lose that, it’ll be more than an inconvenience it’ll greatly change our standard of living.
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