Oshkosh Arena settles tax arrears and is close to a deal to keep Herd long-term
The City of Oshkosh confirmed that Bayland Buildings, the company that built the Oshkosh Arena, paid a total of $644,450.41 in personal property and real estate taxes on Thursday.
OSHKOSH – Everything seems to be going well at the Oshkosh Arena.
The facility’s tax arrears of more than $644,000 have now been paid off, and arena receiver Paul Swanson said he has reached a verbal agreement with the Milwaukee Bucks’ G-League team, the Wisconsin Herd, to stay in the arena long-term.
The City of Oshkosh confirmed that Bayland Buildings, the company that built the Oshkosh Arena, paid $644,450.41 in personal property and real estate taxes on Thursday after the company struggled for years under ownership of Fox Valley Pro Basketball.
According to City Manager Mark Rohloff, this payment now makes the Oshkosh Arena eligible for a tax increment financing incentive and a liquor license that will allow the facility to sell alcoholic beverages at future shows and the upcoming Herd season.
“We’re pretty much ready to go now and I’m glad it all finally worked out,” said Swanson, the court-appointed receiver who is managing the arena’s affairs.
The arena’s future was highly uncertain when Fox Valley Pro Basketball put the 80,000-square-foot building up for sale in April, before the city’s tax office announced that the owner had more than $619,000 in unpaid taxes.
Tyrese Haliburton holds training camp: Tyrese Haliburton hosts camp at Oshkosh North High School
Bayland Buildings filed a lawsuit against the arena owner, claiming the company was owed more than $12 million.
Bayland Buildings then filed a foreclosure action in Winnebago County District Court, claiming that FVPB still owed an outstanding balance of $12,417,464.82.
As part of this case, the court appointed Swanson as a neutral third party to manage the arena, and Bayland Buildings is working with Swanson to get the Oshkosh Arena back in operation.
“They are a secured creditor who is foreclosing on their mortgage on the building, but they have supported it during this time,” Swanson said.
The veteran foreclosure attorney recently hired Iowa-based event management company VenuWorks to oversee operations at Oshkosh Arena after saying he was close to a deal with the facility’s primary tenant, the Herd.
According to Swanson, the two sides have now reached a handshake agreement and are in the process of signing a contract that will keep the Herd in the Oshkosh Arena for several years.
The news ends months of speculation about the team’s uncertain future in Oshkosh after an inside source at Northwestern revealed that the team “no longer wishes to work with FVPB” due to alleged violations of its current lease.
Hot real estate market: Oshkosh ranked first in the hottest real estate markets rankings in July
WXOW reported that La Crosse Center director Jay Odegaard told News 19 Sports that the Herd contacted him to gauge his interest in moving to La Crosse.
Team president Steve Brandes responded in a written press release simply by saying that “the Wisconsin Herd is actively preparing for the 2024-25 season in Oshkosh” before the team announced six of its upcoming 24 home games.
“The Herd is excited to stay in Oshkosh and work with a very professional company like VenuWorks, so it’s truly a win-win for the arena, the team and the community,” Swanson said.
“Everyone is pretty optimistic and these guys (VenuWorks) really know what they’re doing. They’re in the process of hiring a head chef and their general manager (Andy Linton) has experience running arenas in Kentucky and Alabama.”
The arena, which has a capacity of 3,500, is being offered on LoopNet for $19 million, but Swanson said the plan is to manage the Oshkosh Arena through VenuWorks in the short term before soliciting serious offers for the property.
Contact Justin Marville at [email protected].
