Louisville Arena Authority says it won't pay the Fair Board yet - wave3.com-Louisville News, Weather & Sports

Louisville Arena Authority says it won't pay the Fair Board yet

Posted: Updated:
Arena Authority officials are keeping an eye on the market and the interest rates in case refinancing is an option for the KFC Yum! Center in the future. Arena Authority officials are keeping an eye on the market and the interest rates in case refinancing is an option for the KFC Yum! Center in the future.

LOUISVILLE, KY (WAVE) – The Louisville Arena Authority looked approvingly at the amount of money the KFC Yum! Center brought in in January, but the Kentucky State Fair Board says the Arena Authority owes them $2 million, and it's due by the end of March.

"Well, we're in discussions with them now about some exit," said Larry Hayes with the Arena Authority. "There's some amount of money that is reasonable that we do owe, and we're both looking at the billing that they sent us and we're looking at the performance issues that surround that."

Hayes also said they haven't decided on a date to give the money to the Fair Board, but it's not likely to happen by the end of the month.

"It probably won't be something that this board will have an opportunity to enact on, I think, with the Fair Board," Hayes said. "Our last discussions with them, we may be talking about a month or two away."

In January, the Zac Brown Band, the Harlem Globetrotters and Cardinal Basketball games brought in slightly more than a half-million dollars -- $174,000 more than expected.

January's net profit was good, and the Arena Authority Board said it was pleased with the way things are going.

"The rolling forecast, which is year to year, is the most important number," said Justin Jokovich with the Arena Authority. "It's where we project to finish at the end of the year. It's increasing at every single month, so I think that's a positive sign."

While the arena is bringing in money, Hayes said the Arena Authority is keeping an eye on the market and the interest rates in case refinancing is an option for the KFC Yum! Center in the future.

Copyright 2013 WAVE News. All rights reserved.