Fargo's $25M Scheels Arena strapped
FARGO, N.D. (AP) -- The $25 million Scheels Arena in Fargo is trying to work out a deal with creditors to reverse the facility's slide toward insolvency.
The Forum newspaper reports that since it was completed four year ago, the arena has consistently generated about $1.6 million in annual operating revenue _ less than half the $3.6 million to $4 million in expenses it incurs each year.
Former Fargo mayor and current Metro Sports Foundation treasurer Bruce Furness says there were "overenthusiastic estimates on revenue" for the facility that is the home of the Fargo Force junior hockey team.
The private Metro Sports Foundation operates the arena but the Fargo Park District owns it. Park District finance director Jim Larson says taxpayers will not be on the hook should the arena falter.
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Information from: The Forum
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