The Ichthus Festival will return, former director Mark Vermilion said Saturday night, likely with a two-day event later in the year than the event's previous June time slot.

Late last year, Ichthus officials announced the Wilmore event was closing after 43 consecutive years due to financial troubles. The festival's land and intellectual property were auctioned off this year.

Vermillion declined to say who had bought the properties. He did say only the festival is being resurrected, not Ichthus Ministries, which ran the event.

The news was announced to a packed Rupp Arena on Saturday night at the annual Winter Jam tour, which featured numerous acts that are Ichthus regulars. Vermilion said the announcement was made Saturday to get the news out to the thousands of Christian rock fans in the arena, though dates and locations were not available yet.

Vermilion said they will likely be announced later this week through Ichthus.org and the event's Facebook page. He said this year's event will be an "Ichthus lite" with full-blown festivals returning in 2014.