Local News
1:03 pm
Mon June 11, 2012

Arena Authority Seeks New Management for Yum Center

Amanda Donhoff WFPL

The Louisville Arena Authority wants new management of the KFC Yum Center.

The authority voted today to look into dissolving its management agreement with the state fair board and inking a new deal with a private firm.

“When you're trying to manage the Yum Center, the convention center and Freedom Hall, I think it's just hard to focus on controlling expenses at the arena because it's not their first priority," says Metro Council President and authority board member Jim King.

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Local News
5:53 pm
Thu May 31, 2012

Moody's Downgrades Arena Bonds

File photo

Moody's credit rating agency has downgraded the bonds used to finance the KFC Yum Center, citing high operating costs and poor performance of businesses around the arena.

Part of the plan to pay off the bonds relies on tax increment financing. A TIF district was created in downtown Louisville so any development spurred by the facility would help pay the debt. The arena was supposed to give downtown development a boost, but Moody's says the TIF district may not be enough to support the arena.

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