Kentucky has agreed to a 15-year lease extension that will keep the Wildcats’ men’s basketball team in Rupp Arena through 2033.
The extension announced on Thursday takes effect when the current deal ends in 2018 and will feature $15 million in improvements including four clubs and spaces. The university’s annual lease payment will increase from $900,000 to $1.9 million for 28 events with the 40-year-old facility named after legendary Wildcats coach Adolph Rupp.
Kentucky athletic director Mitch Barnhart hinted during a news conference the extension could include the installation of chair backs to seats in Rupp’s upper bowl. Wildcats coach John Calipari said he was “ecstatic” over the deal.
Source: AP
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