Originally Posted by joshnky
I think this aspect has been every bit as good as expected. They just over estimated the tax revenue they'd receive from the surrounding entertainment district in a down economy. If the economy is the problem then the arena should turn a corner over the next five years. If they were simply wrong in their estimates then things will be much more bleak.
I live in Louisville. The only ones worried about this are UK fans looking for a dig at their rival.
This is garbage, no offense. I guess Papa John Schnatter is a UK fan? He's concerned.
Every taxpayer in the city of Louisville should be concerned. Furthermore, every taxpayer in the State should be concerned because that's who will be picking up the debt burden next if things don't change.
The only ones seemingly not worried are UL fans desperate to "put something over" on UK. It's pretty sad that UL fans are so desperate to have something "better" than what UK fans have that they're willing to sacrifice the financial well-being of their own city to do so. Lil Bro Syndrome until the very end.
Funny thing is, a bunch of top recruits were polled a couple years ago and they overwhelmingly prefer playing in older arenas with history such as The Phog or Rupp than brand new arenas.
Rupp and Commonwealth will both be upgraded in the near future but it won't require bailouts or handouts to get it paid for... it will make good financial sense and it will be done responsibly, morally, and above board.