Thu November 15, 2012
Report: NBA Franchise Doesn't Made Good Economic Sense for Louisville
A new report concludes that the addition of an NBA team in Louisville wouldn’t make economic sense for Kentucky’s largest city. The report concludes a professional basketball team would add an estimated $2.4 million dollars to the local economy in the form of tax revenue and job creation. But that wouldn’t make up for the potential costs of luring a team to the city.
The report from Cambridge Economic Research says Louisville would earn far less in revenue than it would spend for relocation fees, lease rights, and venue upgrades.
Some political and business leaders in Louisville have been advocating trying to land an NBA team if one should decide to relocate in the coming years.
The Courier-Journal reports the metro area chamber of commerce plans to complete its own study by early next year that would access the feasibility of an NBA franchise in Louisville.