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Go Ask Jim Ramsey About That Silly New “Study”

November 14th, 2012 by jake · 2 Comments

In about an hour, a bunch of people will be in the University Hospital auditorium for a presser.

Steve Beshear, Jack Conway, Greg Fischer, Jimbo Ramsey and others from UofL.

They’re taking part in a fancy news conference at 10:30 A.M.

Perfect opportunity for the mainstreamers to press Ramsey and crew after the main event over that silly report about how an NBA team would be disastrous for Louisville. Maybe find out why they’re so dead set against progress in Louisville.

P.S. A bit of a prediction: UofL will partner with Jewish. So shocking.

Tags: Arena · Health Care · Hype · Sports · University of Louisville

2 responses so far ↓

  • 1 J. Bruce Miller // Nov 14, 2012 at 11:49 am

    The Mayor’s comments about this ridiculous ‘study’ [sic] are correct and noteworthy — to-wit: That GLI is doing its own study from a ‘community standpoint’ not a one-sided view.’
    The time has come for the local university to develop a concern for the ‘community as a whole’ and its financial well-being and not just their athletic teams. An NBA team is a $400mm business with a $100+mm payroll, whose product is televised in 175 countries and whose product plays a minimum of 41 games in their home city. The MARKET for a major league professional team is a 100 mile radius (not just Jefferson County [which is the market for UofL sports {generally}]) Yum Center is in a pre-bankruptcy position, because the inside players dealt with themselves and they were all UofL-fans — who gave little or no concern about the community as a whole or the PURPOSE OF A COMMUNITY BASED ARENA COSTING $350 MILLION.
    It reported JUST YESTERDAY that YUM is losing money ON OPERATIONS. OPERATIONS do not include the annual interest and principal payment. The annual interest payment on $350m bond issue at an average interest rate of 6% is MORE THAN $20MM — and they’re not even paying PRINCIPAL PAYMENTS YET. When they start paying principal the P&I will total approximately $35mm a year. WAKE UP — HELLO — CALLING ALL CARS! We have a financial debacle on our hands — and AS MAYOR FISCHER HAS SAID — THE ONLY ANSWER IS MORE DATES FOR THE ARENA. And as I have said since it was being constructed as a local university exclusive product (which was destined to fail) THAT MEANS MORE DATES IMMEDIATELY.

  • 2 stunoland // Nov 18, 2012 at 6:46 pm

    Yes the answer is more dates AND an improved TIF district. Louisville specific wagering laws that allow for a pro-sports wagering casino, surrounded by a mall, is a realistic path to a financially stable arena.

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