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Kyle Wiltjer at the GameDay desk wants a good article about the Yum! Center

Kyle Wiltjer looks pretty at home at the GameDay desk, doesn’t he?

This week, Louisville alt-weekly magazine “The LEO” published an in-depth look at the Yum Center’s financial troubles and what must happen for the arena to escape bankruptcy. Joe Sonka, the author, says that one of the reasons the arena is accumulating debt so quickly is the “tax increment financing” (TIF) district surrounding the arena failing to generate the revenue needed to pay back the $359 million in arena construction bonds. Why? The lease between the Arena Authority and the University of Louisville restricts the number of events the arena can host–and make money off of.

It’s a good read, so give it a click if you’ve got nothing to do for the next five to ten minutes.

[LEO: House of Cards]

Article written by Mrs. Tyler Thompson

No, I will not make you a sandwich, but you can follow me on Twitter @MrsTylerKSR or email me.

21 Comments for Kyle Wiltjer at the GameDay desk wants a good article about the Yum! Center

  1. blueaviile
    2:36 pm February 22, 2013 Permalink

    who friggin cares!!!! give it up already

  2. ktmiln2
    2:37 pm February 22, 2013 Permalink

    1. People who live in Louisville who are getting ripped off?

  3. UKBlue1!
    2:39 pm February 22, 2013 Permalink

    The Rag (CJ) won’t touch it. Whas 11 and 84 radio are in bed with Jurich. WLKY, WDRB and Wave also make light of this major issue. I hope the city of lexington has more common sense when it comes to Rupp Arena. The city is headed for a major nightmare.

  4. SeaCat
    2:48 pm February 22, 2013 Permalink

    Tyler: there are two things people care about 1) other people and
    2) their relationships.
    Who are those people in the picture and what is their relationship?
    With Kyle? love triangle? three-some?

  5. catfanran
    3:01 pm February 22, 2013 Permalink

    Jurich is holding the city of Louisville hostage..he is the most errogant, narcissistic, and selfish person in the state…..Its all about HIM and U of L and them getting their cut on concessions, parking and all other things…………..They should go into chapter 7 0r 11 and start over and get rid of U of l and bring in an N B A team to pay for the building and send them back to freedom hall………….Juric is a J E R K…………….CFR

  6. bluemanchew
    3:03 pm February 22, 2013 Permalink

    every resident in the state of Kentucky should care because the state will have to bail this thing out once the city goes bankrupt trying to pay for this.meanwhile UL athletics recruiting budget has tripled because of these profits

  7. UKBlue
    3:10 pm February 22, 2013 Permalink

    The end of this is coming very quickly, and UL is still stupid enough to think they are going to be able to buy the Yum Center in bankruptcy court. UL contract will become void in bankruptcy court. The only idiots paying the TIF are the fools that rushed down to the area to open a restaurant or bar; 4th Street Live, The Yum Center itself, the Galt House Hotels, 21 C Museum Hotel, Marriott Hotel, Glassworks, and Frazier History Museum are all exempt for paying into the TIF. The Tif was never going to make any money because everything that makes money downtown is exempt. The sad thing, Mayor Fisher didn’t even know 4th Street Live was exempt.

  8. SexnNursinHomes
    3:18 pm February 22, 2013 Permalink

    4- samething I was thinking. Although two dudes and a chick isn’t a 3-way, it’s a gang bang or it’s labeled as “runnin the train on her”.

  9. schwing
    3:51 pm February 22, 2013 Permalink

    who’s the chick in the striped shirt trying to hide the bigguns with the scarf?

  10. Al's IndiCats
    3:55 pm February 22, 2013 Permalink

    This is getting better and better by the day 7. I’m sure when they scheduled the bucket to be built they told the surrounding resturants and hotels they could be exempt or be at a lower tax base from paying the taxes to rejuvenate the downtown area.(so other businesses would emerge).
    But this hasn’t happened because all those who go to Uvel games go back to their Ghetto bars or go back to their grand parents basements to party.
    This is where CIB has GOT to renegotiate the contract with Uvel. Otherwise unlike what anyone else says, Jurrich and his ilk will pick the yum up for a song while the whole county flips the bill for the building.

  11. o'boro catfan
    4:06 pm February 22, 2013 Permalink

    Pecking order of who pays for the Yum Center.
    1) The arena authority
    2) Metro Louisville taxpayers — UL and UK fans alike
    3) State of Kentucky taxpayers
    Whether we like or not the taxpayers in the ENTIRE state of Kentucky will being paying for the YUM! Center.
    Believe or not.

  12. RahRah
    4:23 pm February 22, 2013 Permalink

    #1, I’m a diehard Catfan who lives in Louisville and I care! A lot actually. I agree that Jurich & Pitino are holding the city hostage and hope they close the doors and send them back to Freedom Hall.

  13. Sickening
    4:25 pm February 22, 2013 Permalink

    What’s worse is, UL still says (as the CJ quoted again in their article this morning) that the Yum Center cost $238 million. It actually cost $404 million, the arena authority’s own financial statements show this in black and white.

  14. Tom B
    4:27 pm February 22, 2013 Permalink

    I hope more people in Lex and Fayette Cty read about what is happening in Louisville in regards to the Yum Ctr. Also, the city of Cincy is paying debt on two stadiums for the Bengals and Reds.
    The need for Rupp upgrades are relavent and timely. How to pay for them is the question and who gets the profits is the other question. In reading the article in the LEO of Louisville the writer talks to someone who says… in these cases it seems that what happens is to PRIVITIZE THE PROFITS AND SOCIALIZE THE COST. That is the YUM ctr in a sentence.

  15. James
    4:55 pm February 22, 2013 Permalink

    Pay no attention to the Clint Hurtt scandal or the fact that UofL is ripping off the city of Louisville that they claim to love, and then possibly the Commonwealth of Kentucky. Louisville fans still want to talk about John Calipari, Derrick Rose, Marcus Camby and anything else that they can think of.

    Keep up the good work Dirty Birds.

  16. Matt
    5:37 pm February 22, 2013 Permalink

    I think it is time to bring in professional basketball to the Yum center….there is a new league forming….THE BIKINI BASKETBALL ASSOCIATION…coming to a metro area near you this summer…

  17. 3cats
    5:38 pm February 22, 2013 Permalink

    wouldn’t be cool if the lost the yum center and had to back to Freedom Hall and play on the UK floor?

  18. Rusty
    5:38 pm February 22, 2013 Permalink

    I hope the freaking place sinks faster and deeper than the Titanic

  19. blueaville
    8:32 pm February 22, 2013 Permalink

    UL didn’t even want to go downtown in the first place. They wanted an on campus arena that only seated about 19,000-20,000. They have that in their back pocket and if things go south they will bail and build their own. They have the cash and support to do so.

  20. squirrel
    8:44 pm February 22, 2013 Permalink

    just as this pic was snapped the desk drove the lane against kyle for a “and one”

  21. Lee Oh
    10:00 pm February 22, 2013 Permalink

    Can we name names here? Matt Jones knows. Host was involved; former Gov. Ernie Fletcher…and back in Feb 2006:
    Directors in Attendance: Mr. W. James Host (Chair); Mr. Larry Hayes (Vice Chair); Mr. Larry Bisig (still waiting to run for Gov); Mr. Neville Blakemore; Mr. Todd Blue (family that ownes property on and nearby buildings, in bed with the deal); Mr. Junior Bridgeman (of UofL B-ball WENDYS fame); Mr. Zev Buffman (via teleconference); Ms. Reba Doutrick; Ms. Alice
    Houston (Hmmmm); Ms. Cissy Musselman; Mr. Jim Patterson; Mr. William Summers V; Mr.
    Dan Ulmer; Mr. Robert Woolery (via teleconference).