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Louisville Metro Council members have been funding a behind-the-scenes push to lure a National Basketball Association team to the city, spending $60,000 to contract with attorney J. Bruce Miller to approach teams and potential investors.
Council members are considering spending an additional $22,000 toward the effort, taking the money from their own discretionary to funds to pay for it.
The original $60,000 — a last-minute addition by council member Dan Johnson to the current Metro Government budget — was labeled as a “national sports marketing” plan for Freedom Hall, with the money going to the Kentucky State Fair Board.
The fair board then entered into a contract with Miller, who in July began spearheading yet another attempt to bring an NBA franchise to town.
Miller, who has been Louisville’s point person in four previously unsuccessfully attempts to lure NBA teams, said his work started out as a type of feasibility study, but turned “pretty hot” in October.
In an interview Wednesday Miller said he has a majority investor interested in buying a franchise and moving the team here. He said 15 to 25 potential minority investors are also interested, but he wouldn’t name any of them.
“There’s only two ways to get this done: acquire an existing franchise or get an expansion franchise,” Miller said. “You don’t get either one if you don’t have a behemoth investor. What’s different this time is we have our own billionaire — who is among the richest people in the world.”
Miller wouldn’t say where the potential investor is from, or even if he resides outside of the country.
Council members are considering spending an additional $22,000 toward the effort, taking the money from their own discretionary to funds to pay for it.
The original $60,000 — a last-minute addition by council member Dan Johnson to the current Metro Government budget — was labeled as a “national sports marketing” plan for Freedom Hall, with the money going to the Kentucky State Fair Board.
The fair board then entered into a contract with Miller, who in July began spearheading yet another attempt to bring an NBA franchise to town.
Miller, who has been Louisville’s point person in four previously unsuccessfully attempts to lure NBA teams, said his work started out as a type of feasibility study, but turned “pretty hot” in October.
In an interview Wednesday Miller said he has a majority investor interested in buying a franchise and moving the team here. He said 15 to 25 potential minority investors are also interested, but he wouldn’t name any of them.
“There’s only two ways to get this done: acquire an existing franchise or get an expansion franchise,” Miller said. “You don’t get either one if you don’t have a behemoth investor. What’s different this time is we have our own billionaire — who is among the richest people in the world.”
Miller wouldn’t say where the potential investor is from, or even if he resides outside of the country.
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