An audience at Freedom Hall enjoys the action during the 2017 AMSOIL Arenacross Tour. 2\/4\/17(Photo: Marty Pearl\/Special to The C-J)Buy Photo <\/p>\n
Three separate groups of investors who are interested in financing a professional basketball franchise based in Louisville arereportedly expressing a willingness to help pay to bring Freedom Hall up to NBA standards. <\/p>\n
That cost may bearound $150 million, said Jason Rittenberry, president and CEO of Kentucky Venues, the newly rebranded Kentucky State Fair Board. Itoversees the state-owned, 60-year-old Freedom Hall situated in the center of the Kentucky Exposition Center. <\/p>\n
The odds of Louisville's landing an NBA franchise through either league expansionor the relocation of an existing franchise appear long. And the cost to securean NBA team might approach $1 billion. <\/p>\n
The NBA office saysexpansion is not in sight. And no existing clubappears currently inclined to move. In addition, questions have been raised about the ability of the local demographics to support or sustain an NBA team. <\/p>\n
Nonetheless,Louisville lawyer J. Bruce Miller, who served three terms as the elected Jefferson County Attorney, continues his relentless pursuit of a Louisville-based NBA club -- a passion that has persisted for nigh on a generation. <\/p>\n
He has what may seem to be plausible answers for most of the doubts. He maintained, for instance, that if the NBA does expand, Louisville and Seattle are the two primary candidates. And he said the market here would be all of Kentucky, not just Louisville. <\/p>\n
In a recent interview, Miller said he is working with no fewerthan three separate investment groups interested in backing Louisville's effort to secureapro basketball team. Miller said each of the three groups is aware that two other groups share the Louisville NBA ambition but they don't know who the potentially competing investors are. <\/p>\n
And Miller isn't disclosing any names at this point. <\/p>\n
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Miller said one of the three groups actually would prefer playing at Freedom Hall, while the other two would prefer to play at the KFC Yum Center downtown. However, it's possible a deal might not be viable to play at the Yum Center, where the University of Louisville has dibs on dates, suitesand other considerations that the school probably isn't anxious to relinquish. <\/p>\n
That leaves Freedom Hall. <\/p>\n
Rittenberry said the cost to bring Freedom Hall up to NBA playability might start around $150 million; Miller agreed with that assessment. <\/p>\n
The arena's interior would essentially have to be gutted and rebuilt. Rittenberry said that in addition to wholesale cosmetic improvements, a third level would need to be added, all the seats would need to be replaced, and walls knocked out to widen the concourses. <\/p>\n
Rittenberry said, \"Many, many things would have to be done. I'm not even sure you could do it.\" <\/p>\n
Rittenberry said Miller indicated that all of the investors would perhaps consider helping to pay for the makeover of Freedom Hall. <\/p>\n
Rittenberry emphasized that he was not optimistic about Louisville's ever getting an NBA team. But he met with Miller in January to discuss the suitability of Freedom Hall. <\/p>\n
Millersaid in the interview with the newspaper that his meeting with the fair board CEO was intended to bring Rittenberry's \"learning curve current.\" Rittenberry took the Kentucky job last October. <\/p>\n
Miller said he had met several times previously with fair board top staff and its lawyers. He said he also had met recently with representatives of Gov. Matt Bevin's administration. <\/p>\n
Miller said all three investment groups \"havebeen impressed with the concept of Freedom Hall. The main reason is the historic nature of the building. ... They are interested in preserving some of that history.\" <\/p>\n
He noted that several NCAA Final Fours were played there and that some all-time greats, including Oscar Robertson and Elgin Baylor, played in the arena. \"Collegiate basketball was integrated nationwide as a result of Freedom Hall,\" Millersaid. <\/p>\n
The one monied groupthat hastheprimary interest in playing at Freedom Hall views itas \"the ideal spot,\" Miller said. He said about 17,500 seats would be enough. Freedom Hall seated about 18,500before some aging bleachers were recently removed, reducing the seating to around 15,000. <\/p>\n
Miller said none of the three investment groups would want to try to push U of L out of the Yum Center and \"be viewed as a villain of some sort.\" <\/p>\n
Reporter Sheldon S. Shafer can be reached at 502-582-7089, or via email at sshafer@courier-journal.com<\/a>. <\/p>\n A quick look at whether or not an NBA team could be making its way to Louisville. Wochit <\/p>\n Read or Share this story: http:\/\/cjky.it\/2ltIqbh<\/a> <\/p>\n <\/p>\n Read more:<\/p>\n NBA seekers might pony up to redo Freedom Hall - The Courier-Journal<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" An audience at Freedom Hall enjoys the action during the 2017 AMSOIL Arenacross Tour. 2\/4\/17(Photo: Marty Pearl\/Special to The C-J)Buy Photo Three separate groups of investors who are interested in financing a professional basketball franchise based in Louisville arereportedly expressing a willingness to help pay to bring Freedom Hall up to NBA standards Continue reading