Yum! Center Losing $1 Million Per Month
01/31/2013 01:13 PM
According to Louisville entrepreneur Denis Frankenberger, the KFC Yum! Center is losing $1 million per month and roughly $50,000 per day thanks to a lease agreement that favors the University of Louisville.
Frankenberger, who ran an independent study of the lease and the operations of the arena, found that the facility is nearly $800 million in debt as of today and that reports of a $1.5 million profit in 2013 are “as much of a fantasy as Manti Te’o‘s girlfriend.”
Here’s an excerpt from today’s press conference:
Be sure to watch Pure Politics (7:00pm and 11:00pm), cn|2 Sports (6:30pm and 10:30pm) and KSTV (7:30pm and 11:00pm) for the latest developments on Louisville’s arena situation and it’s effect on the Commonwealth.