The chairman of the Kentucky State Fair Board has named a committee to evaluate the event, which saw attendance drop by about 100,000 this year to the smallest crowd in 30 years.
The Courier-Journal said Chairman Mark Lynn named the committee and said he would head the panel.
The fair is held for 11 days every August and has been in existence for more than a century.
Fair board finance chief Anthony Leachman reported last week that the 2014 fair lost more than $200,000, bringing in $9.3 million with expenses of more than $9.5 million.
Fair board president and CEO Clifford "Rip" Rippetoe declined to say whether there are any major problems with the fair. He said the deep attendance drop this year was an "anomaly."