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State votes to bail out Yum Center

DCFseattle

All-American
Mar 17, 2011
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As reported by Matt Jones on Twitter.

My question is, since he didn't go any further than to say that, What are the ramifications of this vote? How much tax money is going to it? How does it affect Lewisville Community College's lease?
 
As reported by Matt Jones on Twitter.

My question is, since he didn't go any further than to say that, What are the ramifications of this vote? How much tax money is going to it? How does it affect Lewisville Community College's lease?
I'll go with it affects UL lease 0, with a substantial affect on taxes
 
Kentucky fans will be paying for the Yum
That is correct. The bottom line is UL athletics will receive a yearly windfall of about fifteen million dollars a year more than a fair lease payment . This obviously gives them a competitive advantage over every other NCAA team because I don't know of any other state or local community dumb enough tosubsidize a state university athletic fund with any money much less that much local tax money .

Basically U.K.,EKU,WKU,NKU, Morehead and Murray fans all have a right to ask their legislator why they wasted tax money in this fashion and where's the extra fifteen million for each of their schools.

Three years ago for instance UL took out 26.9 million in profits from the arena while the local taxpayers paid 9.6 million because UL claimed the arena couldn't make the bond payments. Of course they couldn't because of the unfair lease gave UL 88 per cent of the proceedss as agreed to by city leaders who were UL fans and didn't care they were screwing the taxpayers and every other school in the NCAA.
This is why Turtleneck Tom can laugh at you and strut about the country stating he runs the most profitable athletic program in the country.

Not right but UL now permanently has about a fifteen million a year advantage over your school and if I were you I would raise hell with your legislator about it. He/she did it if they voted for the so called arena bailout.
 
What did they do? Wait till midnight to vote? So no one could object? Was there any publicity or notice about this vote?

How does this effect---if at all--- the prospects of a pro team locating n louisville?
 
What did they do? Wait till midnight to vote? So no one could object? Was there any publicity or notice about this vote?

How does this effect---if at all--- the prospects of a pro team locating n louisville?
Pro team is dead .UL basically now controls the arena and the public including UK ,IU, ND fans and the little old lady who doesn't care about sports is paying for it. Blame Mayor Fisher (D) Gov Bevin (R) Jeff Hoover (R) Jenkins (D) and Nemes (R) and a host of others. Little lobbying by UL and they set for life. Tom Jurich has got to be laughing that the politicians of KY are a bunch of buffoons.
 
Pro team is dead .UL basically now controls the arena and the public including UK ,IU, ND fans and the little old lady who doesn't care about sports is paying for it. Blame Mayor Fisher (D) Gov Bevin (R) Jeff Hoover (R) Jenkins (D) and Nemes (R) and a host of others. Little lobbying by UL and they set for life. Tom Jurich has got to be laughing that the politicians of KY are a bunch of buffoons.

And soon to be laughing at the NCAA....sickening.
 
Pro team is dead .UL basically now controls the arena and the public including UK ,IU, ND fans and the little old lady who doesn't care about sports is paying for it. Blame Mayor Fisher (D) Gov Bevin (R) Jeff Hoover (R) Jenkins (D) and Nemes (R) and a host of others. Little lobbying by UL and they set for life. Tom Jurich has got to be laughing that the politicians of KY are a bunch of buffoons.

Look, politicians working together!!!! ... to screw us all to give someone a sweetheart deal in exchange for votes/donations.

This is BS.
 
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Unacceptable. Let the thing go under. Or negotiate appropriate deals. Either way, I have no reason to put skin in that game!
but you do have skin in the game if you are a Jefferson county taxpayer. A requirement now of living in Louisville is that you financially support UL athletics through your taxes. I know its isnae and unfair. Mo other community does it.

This misuse of tax dollars is just an example of why cities which we(Louisville) competes against like Nashville, Indy, Jacksonville, Charlotte, eat our lunch . We've had no real leadership in Louisville in twenty years.
 
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Fat Scummy Tommy Turtleneck pulled strings to get this vote....the Yum! Center is sliding into bankruptcy and Lil Brother will benefit from it..A lot of bird crap..
 
One of the few times that I'm so glad I moved out of state. I'd be pissed if my income was going to support UL's arena.
Same here. I think I would go nuts if I had to live in Kentucky with what goes on at UL. So thankful no UL fans live anywhere near me that I know. Never see a UL T shirt or bumper sticker
 
Same here. I think I would go nuts if I had to live in Kentucky with what goes on at UL. So thankful no UL fans live anywhere near me that I know. Never see a UL T shirt or bumper sticker
you are lucky I have a personalized UK plate and often get the finger from Lil Brudders in traffic I just laugh and drive on..
 
UL should get zero revenue until this debacle is paid for. tax payers should not foot the bill for UL failure
 
In a better world, if I were more energetic, the politicians involved in this would be made infamous. Put fandom aside. Put blue vs red aside. The athletics department is taking all the money out of the arena, so there's none left to pay the bills, and the taxpayers gets stuck with those bills. That was bad enough when it was originally structured that way, in a back room. But now it's seen the light of day, the facts are out and are known, it goes through the legislative process - and it comes out the same way? With an official stamp of approval of the Kentucky state government? Shameful.

Louisville isn't the most successful program on the court. Doesn't lead the nation in attendance. Doesn't lead (isn't anywhere close) the nation in memorabilia sales. There is nothing about the program to make you say "Of all the schools, I bet that one is the most profitable." Just chicanery. Nothing more.

It's like something you'd see in a third world country....
 
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And people still ask me why I left Kentucky. I live in PA where it seems like every year a few legislators go to jail, and I think its probably a less corrupt state than Kentucky.

It's disgusting that the legislature continues to cut state funding to UK that results in constant tuition increases at our flagship university, but it can find the money to bail out this albatross arena.
 
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Did ul have to make ANY concessions or did the state just bend us all over a barrel?
 
Politicians take care of themselves. Let it pass, and when I am done in Congress I have a cushy job lined up with the folks I made rich.

The question is what taxes are paying for the arena. Is the area tax, state taxes, what.

There equality is strange. When the coal tax money went to Kentucky, all I heard was how could the school tax money earmarked for poor communities. Is this not the same.

Taking money from more deserving areas and putting into a building.
 
I'm so far from that guy who buys into class warfare, but I do hate the way businessmen get away with lining their pockets while their companies go under. Taxpayers pick up the bill for these multi-billion dollars stadiums, etc. Politicians and many in the business community are as corrupt as they come.
 
A politician has two jobs: 1) raise money 2) get re-elected

Once you understand that everything else makes sense.
 
Did ul have to make ANY concessions or did the state just bend us all over a barrel?

UL will have to pony up 2.5 million more per year.

They lowered rates on the junk bonds.

UL wins again. Pensioners worrying about bankruptcy because of years of govt mismanagement continue to get delayed. Politics.
 
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