Why not build an arena in Starkville? Or better yet: when the new basketball arena is built leave the Hump to pick up some events. Outside of football season there's not a whole lot to do (Baseball and Basketball are fun but not the same atmosphere as Davis Wade). Maybe some other indoor sports or concert series would spark some interest.
I'm obviously biased in saying so but they should put down some ice under the floor for the Bulldog Ice Hockey team. Check out UK's hockey site. Hockey is their third most attended sport on campus and I think it would work here.