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UofL Agrees to Change Yum! Center Deal

After months of negotiating, University of Louisville interim President Greg Postel said in a statement the school will pay an additional $2.5 million a year as a part of a renegotiated lease.

“We hope to soon finalize what we believe will be a creative solution to the KFC Yum Center’s financial challenges,” Postel said. “The university already has agreed to changes in the lease agreement that would return at least an additional $2.5 million to the Arena Authority annually to assist in the payment of construction debt. The university’s goal is to be a team player with the city, state and Arena Authority in preserving the long-term viability of this important community asset.”

The announcement happened shortly after Scott C. Cox, the chairman of the arena authority, stated publicly he was “extremely concerned” that the two parties still had not reached an agreement.  The implications and specifics of the yet to be finalized agreement are still unknown, but it’s safe to say this is a step in the right direction.


Article written by Nick Roush

"Look upon the doughnut, and not upon the hole." @RoushKSR

5 Comments for UofL Agrees to Change Yum! Center Deal

  1. Catcasey1
    9:26 pm May 15, 2017 Permalink

    Cleaning the dirty laundry

  2. ronzo
    10:09 pm May 15, 2017 Permalink

    Well that certainly solves the problem, should have the principal and interest paid back in about one million gazillion years.

  3. unbridled
    10:10 pm May 15, 2017 Permalink

    No matter what, I’d still say the tax payers are getting taken to the cleaners. I doubt $2.5 million a year covers the deficit of that insanely stupid and one sided contract the university signed with the city.

  4. ABthetruth502
    2:03 pm May 16, 2017 Permalink

    Ksr criticizes Uofl for getting too good of a deal, that in NO way affects Lex tax payers btw… And now being criticized for Agreeing to pay an EXTRA 2.5 mill a year, no chump change, When we clearly didn’t have to and ate doing it clearly to extend the olive branch. Anybody that thinks the Yum is bad for the city as a whole are Uk fans, and the uninformed of the real facts without spin…Like the fact the Yum is a top 20 concert venue in the World, and earns Louisville 10 figures extra a year in the trickle down alone. I must say, these constant 2 paragraph “articles” Are Always good for some shits & Giggles during the workday 😆

    • And exactly why is it fair & reasonable for UL to make money on said concerts? The artists aren’t coming to the yum center for the UL connection just the venue which UL didn’t pay to build clearly. They are a tenant. Show me where else a tenant gets a piece of all of the action without a MUCH larger contribution to the bottom line.