New Downtown Home For UK Basketball? LEXINGTON, KY (wuky) - The University of Kentucky has announced a revolutionary new plan that could eventually lead to the construction of a new downtown basketball arena, upgrades to Commonwealth Stadium, as well as a new on-campus baseball park, all of which would be funded with private money; a first for any college in the U-S. UK Athletics Director Mitch Barnhart, says the school is working with IMG College, a division of the multi-national corporation that bought out Host Communications, on a six month feasibility study for the three projects. Barnhart presented the plan Thursday to the Lexington Center Corporation Board, which manages Rupp Arena. And even though the arena could be losing its steadiest tennant, board members say Rupp would continue to be a valuable entertainment and concert venue. The estimated total cost of UK's trio of projects would be between 300 and 400 Million dollars. © Copyright 2009, wuky