MESA, Ariz. — The owner of Legacy Park: Arizona’s Premiere Sports & Entertainment Complex announced Monday it was filing for Chapter 11 bankruptcy.
Legacy Cares Inc. said the 320-acre sports complex in Mesa would remain in operation as the organization uses the bankruptcy process to address debt obligations.
“Legacy Cares’ goal is to preserve this landmark facility so it can continue to serve the community for many years to come," Legacy Cares President Douglas Moss said. "Legacy Cares intends to use this process to protect and support the Park’s business operations and address Legacy Cares’ debt obligations while working towards an orderly and efficient possible sale of Legacy Cares’ assets in a manner that maximizes their value.”
The organization has also recruited the help of an investment bank to assist with the potential sale of all Legacy Cares assets.
Last month, Bell Bank announced it was ending its partnership with the sports complex following public reports of financial concerns. As a result, the facility changed its name to Legacy Park.
The facility opened in January 2022 and was already in financial trouble by October, according to the Arizona Republic.
Legacy Cares said the facility's day-to-day operations will not be adversely affected in the coming months and does not foresee any negative impact on the local community.
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