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Russell and Heinrich Spängler,for their service to the Company. A proposal that the maximum number of directors bemaintained at twelve (12), and that the directors of the Company be authorizedto appoint new directors either to fill vacancies occurring in the Board ofDirectors or to act as additional directors (up to the maximum of twelve), wasalso approved During the Annual General Meeting, William P. Spurling and Alexandre von Furstenberg was elected to theBoard of Directors.
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Also included in the release was a proposed sports bar that would be located on the main concourse; it would be open year-round and have views of the Ohio River.
Work started on the new arena in November 2008.The Task Force meetings were not without controversy.
At first, task force member and University of Louisville athletics director Tom Jurich, along with UofL president James Ramsey and Task Force member John Schnatter, were ardently opposed to a downtown site and supported instead a campus arena, or a new arena built near Freedom Hall at the Kentucky Exposition Center.
The arena's share of that revenue is capped at $265 million, although the project will be able to use the excess revenues to pay down the debt.
However, the two dropped their lobbying effort after it did not seem to change the minds of the rest of the task force.In the final site recommendation vote, Schnatter was the only one to vote against the waterfront site.City of ParksOhio River Bridges Project.
On April 19, 2010, it was announced that Yum! Brands would pay US $13.5 million for the naming rights and will place KFC, Pizza Hut, Taco Bell in seven concession stands within the arena.The University of Louisville men's and women's basketball teams will be the primary tenants in the arena complex, however, conventions, ice shows, and collegiate sport championships would also use the facility as well. It will be the fifth largest college basketball arena in the nation.Early arena planning focused on two potential arena sites: one owned by the Louisville Water Company bounded by Liberty Street, Muhammad Ali Blvd, Second and Third Streets, and one owned by Louisville Gas & Electric (LG&E) on the waterfront between Second and Main streets. In March 2006, University of Louisville basketball coach Rick Pitino stated he would not coach in an arena built at the water company site. This came at a time when the House budget committee earmarked funding for the arena only if it was built at the water company site.
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