Phoenix Sportspark Bankruptcy: Popular Area Attraction Struggles Financially

Phoenix Sportspark Bankruptcy: Popular Area Attraction Struggles Financially

Mesa’s Legacy Park, a 320-acre sports complex made up of dozens of facilities including an outdoor stadium, indoor arena, soccer/lacrosse/football fields and more has seen an influx in customers despite declaring Chapter 11 bankruptcy protection. According to the Phoenix Business Journal, the company owes over $366.7 million to more than 200 creditors after defaulting on its bond payments since October 2020.

The Arizona Industrial Development Authority funded construction through a series of bonds totaling $284 million and although 4.3 million people visited the park in 2022 it appears that cost overruns along with possible management issues led to their financial woes.

Despite its current situation Legacy Park continues to attract visitors as it offers various sport options for all ages making it one of Mesa’s most popular attractions

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

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