Basketball practice facility to be renamed.

[chevelle99]

Yum brands will donate over six hundred thousand dollars to exit the naming rights agreement for U of L 's practice facility. The owners of Planet Fitness local franchises will also be contributing three million dollars for upgrades and renovations.

https://www.courier-journal.com/sto...rename-athletic-practice-facility/2306020002/

 

[KerryRhodes]

Additional revenue.

That wont make a certain poster happy-

 

[KozmasAgain]

I think it's great we need more of it Inhipe it continues.

 

[ShortCreek]

Additional revenue.

That wont make a certain poster happy-

Would that be “zipp” or zipp NQ?

 

[KerryRhodes]

Would that be “zipp” or zipp NQ?

 

[zipp]

You find out the truth when you peel back the onion... Apparently, this is to replace money that Yum! is no longer giving to U of L to fund the facility. In fact, Yum! is buying out ($625K) their commitment so they don't have to give more.

No question, that's great news.

And Planet Fitness has already been giving U of L money for athletics. Previously, we were receiving money from Yum! AND Planet Fitness...

 

[Thecycle27]

Yeah, not bad news, but news that only backs up what Zipp has been saying. This is the same group that own SunTan City who have support Louisville for a long time. No new money. Not sure what it means with YUM. Yum they received all they wanted PR wise from the initial naming rights.

 

[zipp]

We'll find out in another year or so when the arena naming rights contract is up. But keep in mind that Yum! is the same sponsor at 2nd & Main. Maybe a harbinger of what's gonna happen with that naming rights deal?

LINK

Granted, U of L is just indirectly linked to arena naming rights revenue--a ten-year deal at $1.3 million annually--in that it receives none of the money directly, if at all. But all of this stuff is related. Any decline in naming rights revenue has to be made up somehow. I anticipate arena top line numbers will be otherwise impacted by the significant decline in men's basketball attendance.

We all know that the LAA will come a-knockin' again on the primary tenant's door when they need more money. They know where the golden goose lives, or used to live.

Good news this week?...Right.

 

[chevelle99]

And in a seemingly unrelated story: U of L defeated Kent State tonight at the Yum center (the downtown arena not the on campus practice facility) 70-83. Scrutinize the revenue ramifications of practice facility naming rights all you want. Hell... go ahead and draw revenue charts on the napkins of Mexican restaurants in strip malls until you run out of ink. I think our current AD is doing a great job retaining coaches who want to stay with this university. As well as hiring replacement coaches like Mack on the upswing of their career.