Winston-Salem, NC-- A deal that has been months in the making is done and a Triad coliseum has a new owner.
Wake Forest University completed its purchase of the Lawrence Joel Veterans Memorial Coliseum from the City of Winston-Salem. As of Thursday, the Athletics Department became the owner of the Coliseum and 33 surrounding acres, the school said in a statement.
Winston-Salem City Council gave its approved for the sale to move forward in May.
Wake Forest's Athletic Director, Ron Wellman released this statement about the completion of the purchase: "Wake Forest's ownership of the coliseum is a great opportunity for the University, our basketball programs and our community," said Director of Athletics Ron Wellman. "We will make the repairs and improvements to the coliseum's infrastructure that are important to making the facility an attractive venue for everyone in our community. "The University would like to once again thank the City Council and the city's administrative team for their vision for the future of the coliseum. The future of the coliseum is bright as we are determined to make it an even greater asset for our community," said Wellman.