Latest NBA fantasy: Freedom Hall
Investors are expressing a willingness to help pay to bring Freedom Hall up to pro basketball standards, according to J. Bruce Miller, a lawyer who has tried for years to bring the NBA to Louisville.
But he isn't disclosing any names.
The odds of Louisville's landing an NBA franchise through either league expansion or the relocation of an existing franchise appear long. And the cost to secure an NBA team might approach $1 billion.
On top of that, the cost to renovate Freedom Hall may be around $150 million, said Jason Rittenberry, president and CEO of Kentucky Venues, the newly rebranded Kentucky State Fair Board. It oversees the state-owned, 60-year-old Freedom Hall situated in the center of the Kentucky Exposition Center.
The NBA office says expansion is not in sight. And no existing club appears inclined to move. In addition, questions have been raised about the ability of the local demographics to support or sustain an NBA team.
Nonetheless, 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.
He maintains 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.
In a recent interview, Miller said he is working with no fewer than three separate investment groups interested in backing Louisville's effort to secure a pro 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.
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Rittenberry said that to bring Freedom Hall up to NBA standards, the arena's interior would essentially have to be gutted and rebuilt. In addition, a third level would need to be added, all the seats would need to be replaced, and walls knocked out to widen the concourses.
Rittenberry said, "Many, many things would have to be done. I'm not even sure you could do it."
Reporter Sheldon S. Shafer can be reached at 502-582-7089, or via email at sshafer@courier-journal.com.
