LOUISVILLE, Ky. (AP) – A state legislative panel has asked State Auditor Mike Harmon to audit the Louisville Arena Authority, which oversees the KFC Yum! Center.
The Courier-Journal (http://cjky.it/2e5A30A ) reports that the General Assembly’s Capital Projects and Bond Oversight Committee requested the audit due to concerns about the facility’s finances. The request won unanimous support Tuesday from Democratic and Republican lawmakers.
Democratic Sen. Julian Carroll says he worries about the Yum! Center’s ability to cover its future debt payments.
Republican Sen. Chris McDaniel says the arena’s arrangement with the University of Louisville, whose basketball teams play at the downtown arena, is another concern. McDaniel says the university’s athletics programs reap a “tremendous profit” from their partnership with the Yum! Center. He says it’s a deal that “ultimately might strangle” the arena itself.
Information from: The Courier-Journal, http://www.courier-journal.com
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