Be thankful for the Marriott Center!

This is what Big Time college basketball is costing the residents of Louisville Kentucky...Louisville built an arena on unsustainable debt. The Yum! Center is a fantastic place and home for the UL Cardinals. BYU played in the Yum Center in their NCAA trip last year, but it comes with an operating loss of $50,000 per day in 2011 and $37,000 per day in 2012? (Yes, those numbers are PER DAY.) more than 30 million in losses since opening that will ultimately be paid for by the residents of Louisville KY. The Marriott Center doesn't have all the bells and whistles but I think it's a great basketball arena That all Cougars can be proud of.



http://billiondollarbasketball.com/" onclick="window.open(this.href);return false;



Go Cougs!



L Hatton

Louisville, KY

It absolutely astounds me that it costs nearly $100,000 a day to have the place up and running. What in the world could cost so much? Are they burning $100 bills to heat the joint?

hawkwing wrote:
It absolutely astounds me that it costs nearly $100,000 a day to have the place up and running. What in the world could cost so much? Are they burning $100 bills to heat the joint?

They take the total annual operating costs and divide by 365 (366 for 2012).

snoscythe wrote:

It absolutely astounds me that it costs nearly $100,000 a day to have the place up and running. What in the world could cost so much? Are they burning $100 bills to heat the joint?

They take the total annual operating costs and divide by 365 (366 for 2012).

I get that, I'm just amazed that some days it takes hundreds of thousands of dollars to operate the facility. That seems like a lot of $$ to me.

It is not the operating expenses, it is the bond repayment that is crippling the facility. It looks like the $300 million dollar stadium has debt of over $800 million right now and is not bringing in enough revenue to pay the massive bond payments.

Hard to figure, it's a lot of building, I don't know how big the staff is. They usually sell out the UL games but it sits idle most of the time. They also have shows...The Who this month and later Bon Jovi, Taylor Swift, Fleetwood Mac and even the Dalai Lama, but still it sits idle most of the time.

billbillbillbill wrote:
It is not the operating expenses, it is the bond repayment that is crippling the facility. It looks like the $300 million dollar stadium has debt of over $800 million right now and is not bringing in enough revenue to pay the massive bond payments.

The lesson we can learn, is don't go $800,000 million into debt for a $300,000 home.

hawkwing wrote:

It is not the operating expenses, it is the bond repayment that is crippling the facility. It looks like the $300 million dollar stadium has debt of over $800 million right now and is not bringing in enough revenue to pay the massive bond payments.

The lesson we can learn, is don't go $800,000 million into debt for a $300,000 home.

IF only you would have mentioned this 2 years ago to me. :blush:



Party at my 800 million dollar house this weekend! Who's in? 8)

hawkwing wrote:

It is not the operating expenses, it is the bond repayment that is crippling the facility. It looks like the $300 million dollar stadium has debt of over $800 million right now and is not bringing in enough revenue to pay the massive bond payments.

The lesson we can learn, is don't go $800,000 million into debt for a $300,000 home.

Does Obama know about this?

Why? Would he say that "he built it?" :-)

Now, the rest of the story...a few years back Rick Pitino said he would not stay on as the coach at UL unless they had a new arena either on campus or in downtown Louisville equal to or better than UK's Rupp Arena. Then politicians took over and the forever Democratic controlled City of Louisville with it's croney capitalism and unions built it with massive cost over runs. Plus the Unions have continued control of the staffing contract. So hawk is right in that it's a 300 mil arena built for 800 mil and the cost just keeps on going up!!!



Sorry for my political rant but I have no love for Big City Politics! Na, Obama didn't build it but his buddies did!!! ;)

He needed a new arena to fit his huge ego in.