Donor gives money to help Fargo arena manage debtFARGO, N.D. (AP) — A mystery benefactor is giving money to help keep the Scheels Arena in Fargo stay afloat.
FARGO, N.D. (AP) — A mystery benefactor is giving money to help keep the Scheels Arena in Fargo stay afloat.
The Forum reports that Metro Sports Foundation, which operations the arena, made the announcement Wednesday morning.
The foundation owes approximately $23 million in debt. The arena was built in 2008 for a price of $25 million. The foundation has struggled to generate revenue to pay down the debt while meeting operating expenses.
The amount the benefactor is donating and the donor's name have not been released.
As part of the deal, the donor wants the foundation to have the option of buying the arena back from the Fargo Park District, the current owner.