Mediator now involved in Oshkosh arena bankruptcy
A mediator will try to negotiate a restructuring plan for the bankrupt Menominee Nation Arena in Oshkosh.
The arena’s owner, Fox Valley Pro Basketball, and builder Bayland Builders have agreed to work with a federal judge on a repayment plan of $13 million. Both sides have agreed to a reduced value of $10 million for the arena.
Judge Brett Ludwig said he hopes both sides are willing to compromise. He also allowed Fox Valley Pro Basketball President Greg Pierce to provide another $100,000 loan to the arena, from his other business, Windward Wealth Strategies.
Last August, Bayland sued Fox Valley Pro Basketball, saying it was more than a year behind on its mortgage payments and owed the construction company $13 million. Bayland built the arena — the home of the Wisconsin Herd, the Milwaukee Bucks’ G League team — in 2017. Fox Valley Pro Basketball field for bankruptcy in late August 2019.
