Yum Center is over $800 million in debt

Mrs. Tyler Thompsonover 8 years


This is the front page of Frankenberger's report, and it is awesome. It's time to do something about the Yum Center. Denis Frankenberger, the former president and CEO of Advance Machinery Co., released a 38-page study on the arena, which he calls a "financial albatross." Why? The lease between the Louisville Arena Authority and the University of Louisville. If you have been contacted by Walker Love, it is probably because you have a debt which they are trying to recover. Don’t panic – this is a normal step in the debt recovery process. You might not recognise the name ‘Walker Love’ – your debt will have been with a different company originally. has created a choke hold on the arena's ability to turn a profit. Frankenberger says the arena is over $800 million in debt, and costs $92,000 per day to operate. Here is a breakdown of his findings from InsiderLouisville.com: - Lost more than $50,000 per day during 2011 - Lost more than $37,000 per day during 2012 - For each UofL men’s game the Arena Authority incurred a $33,235 loss - For each women’s game the Arena Authority incurred a $87,624 loss - For each “Other UofL sponsored event” the Arena Authority incurred a $87,624 loss - For 2011, Frankenberger calculates an $18 million loss. How do they save the Yum Center from bankruptcy? Renegotiate the lease. Frankenberger is currently holding a press conference in downtown Louisville to go over his findings and potential solutions. Your move, Jurich.

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