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.

Click here to read more about why Frankenberger believes taxpayers should be worried.

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.

Thomas Beisner

TJ is an Anchor for Spectrum News. You can catch his work on KSTV, the only nightly show in the state focusing on UK Sports. When it comes to UK Basketball, TJ covers recruiting, the NCAA tournament and everything in between. During March TJ probably sees the players more than he sees his family but he’s able to provide Spectrum News viewers the unique insight that only a lifelong fan can give. He’s also taken on several special programs including “Wildcat Forever: The John Stewart Story.” KSTV airs weeknights at 7:30 and 11pm on Spectrum News or watch it anytime with Spectrum On Demand. You can also catch podcasts of the show as well as bonus podcasts, just find KSTV on Itunes. For the latest on everything going on with UK Athletics, recruiting or if you just need some hilarious parenting anecdotes follow TJ on Twitter @tjbeisner.

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