Board approves upgrades to Rupp Arena

[UKMustangFan]

You really think so?

 

I'm skeptical.

 

Without question IMO.

[Randy Parker]

I think so also.

 

Without question IMO.

 

Could be. That just seems like an enormous amount of money for the University.

[Jim Schue]

Could be. That just seems like an enormous amount of money for the University.

 

There are plenty of Joe Craft-types among your fan ranks to make this happen. The university just needs to tell the downtown business association to buzz off. But that will never happen.

[OlDog75]

Man. I was hoping for more than that. I absolutely hate sitting in the upper arena. Rows are way too narrow, wreaks havoc with my knees. Last time at Rupp I swore I would never come back unless I got lower bowl tickets or until that place was rehabbed.

[Jumper_Dad]

There are plenty of Joe Craft-types among your fan ranks to make this happen. The university just needs to tell the downtown business association to buzz off. But that will never happen.

Could be, but Craft has given around $10million to UK, you would need 50 Joe Craft sized donations to privately fund a new arena.

 

If UK could build an on campus Arena from donations without the cities help why would they care what the few downtown businesses that make money off of home games think? UK could keep all of the parking, concessions plus steal concert business from Rupp...IMO if they could build it they already would have.

[Jim Schue]

Could be, but Craft has given around $10million to UK, you would need 50 Joe Craft sized donations to privately fund a new arena.

 

If UK could build an on campus Arena from donations without the cities help why would they care what the few downtown businesses that make money off of home games think? UK could keep all of the parking, concessions plus steal concert business from Rupp...IMO if they could build it they already would have.

 

There are enough conflicting interests between the UK money people and the downtown business people to ensure no on-campus arena ever gets built at UK.

[ColonelCrazy]

There are enough conflicting interests between the UK money people and the downtown business people to ensure no on-campus arena ever gets built at UK.

 

Do you mean common interests?

[Jim Schue]

Do you mean common interests?

 

As far as the University of Kentucky in its longstanding efforts to build a state-of-the-art on-campus arena are concerned — remember how often Ricky begged for it and got shot down? — definitely conflicting, but many common people.

[LOOGY]

UK almost raised 50 million privately for the new football facility. It think they could come close to building a new arena.

[JDEaston]

UK could come up with the money over time if they wanted to build an on campus arena, but it would definitely take some time.

 

On the other hand, they could finance one and have it built quicker, but probably don't want to take on that type of debt. They must be smarter than the folks in Frankfort and Louisville.

 

If you remember it wasn't long ago that UK was willing to fund around a $250 million dollar (I believe) rebuild of Rupp Arena to keep it downtown and up to date, if the city could come up with $50 million or so for streetscaping around the arena. Frankfort shot the city of Lexington's requests for grants down so that plan failed. I guess with the ginormous amout the Yum center is going to cost the state in junk bonds, it was too much to ask for.

 

Lexington only needs one large indoor arena, it will not support two. Unfortunately, the state will not help fund it so UK will have to make the upgrades on their own dime, if the rebuild ever happens. Meanwhile, us tax payers will be paying for the Yum center for the rest of our lives.

[Jumper_Dad]

UK almost raised 50 million privately for the new football facility. It think they could come close to building a new arena.

It would take about 10 times that amount to build an arena comparable to YUM

[JDEaston]

It would take about 10 times that amount to build an arena comparable to YUM

 

Kentucky was willing to put up all but $50 million to rebuild rupp into an arena the equivalent of the Brooklyn nets arena. The state would not approve the $50 million in grants the city of Lexington needed to complete their end of the deal.

 

The Yum center was originally a 2-250 million dollar facility so essentially it would only take 5 times that in private donations. Unfortunately, it has been refinanced into a $500 million+ arena, that us tax payers will end up paying around a billion for if they can't figure out how to make some money off from it.

[Jumper_Dad]

Kentucky was willing to put up all but $50 million to rebuild rupp into an arena the equivalent of the Brooklyn nets arena. The state would not approve the $50 million in grants the city of Lexington needed to complete their end of the deal.

 

The Yum center was originally a 2-250 million dollar facility so essentially it would only take 5 times that in private donations. Unfortunately, it has been refinanced into a $500 million+ arena, that us tax payers will end up paying around a billion for if they can't figure out how to make some money off from it.

The New Kings Arena one of the smallest in the NBA will cost $475 Million to build, The Amway Center in Orlando was around $400 Million...I just don't see UK building anything for less than $500 as it gets more expensive each year that passes.

[Jim Schue]

The New Kings Arena one of the smallest in the NBA will cost $475 Million to build, The Amway Center in Orlando was around $400 Million...I just don't see UK building anything for less than $500 as it gets more expensive each year that passes.

 

Whatever UK eventually builds will be state of the art at that time, so plan on it being expensive. I'm of the opinion they could get plenty of big-money donors to line up for this, and even if they didn't get the full amount, why not just bond the remaining amount? It's a lot easier to pay bond service down for $100 million than $500 mil.

[Jumper_Dad]

Whatever UK eventually builds will be state of the art at that time, so plan on it being expensive. I'm of the opinion they could get plenty of big-money donors to line up for this, and even if they didn't get the full amount, why not just bond the remaining amount? It's a lot easier to pay bond service down for $100 million than $500 mil.

With some of the issues raising money over the past decade of different projects I just don't think it's as easy as you think it is to raise those kind of dollars.