LCC, UK agree to new 15-year lease on Rupp Arena

12/15/2016 10:32 AM

The Lexington Center Corporation and the University of Kentucky have announced that they have agreed on a new 15-year lease at Rupp Arena which would allow the men’s basketball team to continue playing there through the 2033 season.

The new lease will begin at the expiration of the existing lease and ensures the name Rupp Arena won’t change during that time. It also indicates that LCC will make new capital investments of about $15 million in improvements to Rupp and that UK will have an expanded role with the arena. That expanded role will include concessions, catering, parking, as well as control of multi-media rights and the sale of souvenirs during games.

Final details in the agreement are expected during the next few months.

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