Unnamed sponsor puts money down for Scheels ArenaFargo, ND (WDAY TV) - An unnamed benefactor is willing to put money down to keep the cash-strapped Scheels Arena operating, with one catch.
By: WDAY Staff Reports, WDAY Staff Reports, WDAY
Fargo, ND (WDAY TV) - An unnamed benefactor is willing to put money down to keep the cash-strapped Scheel's Arena operating, with one catch.
That benefactor wants the Metro Sports Foundation to be able to buy the arena back from the Fargo Park District.
The large donation would help bring down the $23 million still owed on the $25 million facility.
Scheels Arena has struggled to come up with enough revenue to pay down that debt and keep the facility running.
The Metro Sports Foundation donated the arena to the Park District to avoid having to pay property taxes.
The foundation, though, has no plans to buy it back in the near future.
Bruce Furness, Metro Sports Treasurer: “There's no reason for us to buy it back because the whole purpose of getting the park district involved was to take advantage of the property tax exemption. So, we would want that to stay the same. But, who knows what happens 50 years from now.”
The board will address the proposed deal at an October 9th meeting.