Sorry to tell you Matt Jones was wrong. The state auditor is not looking at UL athletics in any way or YUM arena.
What the auditor is looking at is the structure of how they run the UL Foundation. It has nothing to do with athletics.
The foundation is private money and used mostly to fund things on the academic side of the university. UK has a similar foundation on a smaller scale as well. UL has built the foundation to 1.1 billion dollars now. Some political appointed UL board members don't like it that they cannot control the foundation. All politics really. Mark it down when the auditor finishes they will find no major issues. With that much money you can bet they have top legal and accounting folks keeping it in order. As a UK fan you probably don't go down by UL but they have used this money to totally change the campus and academic structure of the school.
As for YUM you are right UL has a sweet deal but really it is not on the rent. UL pays a fair share on the rent. Much more rent than UK pays at Rupp. The deal UL got was more on having a lot of control on dates during basketball season. The bottom line at Yum is that the city not UL decided to spend a extra 100 mil to have the arena next to the river where they wanted it. Rent paid by UL goes toward operations and operations is turning a profit. UL money or any other rent money was never intended to pay off the bonds. The bonds are paid off by the TIF district. Has nothing to do with UL. The issue is that the city used projections that showed more growth than they have had so the city will have to keep putting in their extra money to pay the bonds. Not really a big deal. It is paid by City money and the city benefits from having the needed arena. No state money is being used.
Besides why are you complaining? UK has gotten to use Yum already twice to have home games in two NCAA tourneys. Next year the South Regional is in YUM and I am sure you expect UK to be there again. There is lots of events held in Louisville that benefit the whole city not just UL.