Miller Says Foreign Investors Are Interested In NBA Team

by Gabe Bullard on December 17, 2010

Louisville’s quest for an NBA team will continue.

On Thursday night, the Metro Council approved an additional 29 thousand dollars for the search. The money is on top of 60 thousand dollars already given to the Kentucky State Fair Board, which has paid attorney Bruce Miller to find a team to play in a renovated Freedom Hall.

Miller says he has presented a letter of intent to foreign investors who would put up the money to buy a professional team and move it to Louisville.

“The investor that has the wherewithal to make the thing happen for this market area has the ability to convince another owner somewhere, or possibly convince the NBA that the potential is so great that they’ll just have an expansion team,” he says.

If the efforts are successful, Miller says 89 thousand dollars in city money is a small price to pay for what an NBA team could bring to Louisville.

“Two and a half million dollars a year annually in payroll tax alone plus fill up an empty arena,” he says. “I mean, what does everybody want to do, blow Freedom Hall up?”

Miller says he’s put in many hours of pro bono work as well. The city has capped its payments toward the search at the current amount.

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