LOUISVILLE, Ky. (WHAS11) – WHAS11 learned Wednesday about an amendment to the University of Louisville's lease with the KFC Yum! Center.
Thursday the athletic association went over the new agreement which involves the university paying the Yum! Center an additional $2.4 million each year.
UofL officials say this was a difficult process with several athletics association board members voicing their concerns about the new agreement, wondering where the money will be coming from.
But interim President Greg Postel says this was something the university agreed to do to help the arena authority as the Yum! Center's anchor tenant.
The lease amendment says the university will pay an additional $2.4 million each year to the Louisville Arena Authority beginning in April of next year.
The university has also agreed to relinquish all October dates on the arena's calendar, but the agreement says the arena will give priority to university basketball games during that time, which would include scrimmages and exhibition games.
By freeing up October dates, the arena hopes to be able to schedule more events.
The university will also add a $2 surcharge to tickets for men's basketball games which can be raised up to $8, though the university has not said it will do that at this time.
Per the amendment, women's volleyball games will also no longer be played at the Yum! Center.
Postel says these changes were made alongside the athletic department and athletic director Tom Jurich.
"There's nothing unusual in what we decided today that Tom was not aware. He'd been out of town for the last couple of weeks, so when he came back last night, I just updated him on the final version of it, but there were no surprises,” Jurich said.
When asked by a board member if he agreed with the amendment to the lease, Jurich did say yes.
He also said everything was now on the table, including possibly raising ticket prices, though university officials have said they hope that does not need to happen.
The University of Louisville Athletics Association met with the board of trustees at 1 p.m. The lease amendment was approved by the Board of Trustees by a vote of 7-2.
The Louisville Arena Authority is meeting at 1:30 p.m. to approve the amended lease.
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