Posted Thursday, April 20, 2017 at 4:35 pm
Nederlander Entertainment, owners of the U.S. Bank Arena in Cincinnati, say they want to overhaul the arena with taxpayer help for the NCAA men’s basketball tournament, scheduled in 2022.
U.S. Bank Arena - Cincinnati
The NCAA expects to host the first- and second-round games at the arena; Nederlander says that will require a total overhaul to meet the requirements imposed by the association. The reconstruction costs are estimated at $250 million to $350 million.
Nederlander CEO Ray Harris told WKRC-TV some of that would need to come from taxpayers but didn’t specify how much.
Several local officials said they wouldn’t support using public dollars on the project including mayoral candidate Yvette Simpson.
Harris said Nederlander doesn’t plan to own the building after the renovation and, instead, it would be owned publicly, according to the Cincinnati Business Courier. He suggested the Port of Greater Cincinnati Development Authority could be an owner.