November 24, 2024 4:20 am
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Bell Bank Park tapping reserves to avoid default

By Scott Shumaker | Queen Creek Tribune

Bell Bank Park operator Legacy Cares received authorization last week to dip into its last $22 million in cash as it scrambles to find a way out of default on a $280 million loan and maintain operations during talks with prospective lenders who might take over its debt and give the park more time to become profitable.

The 320-acre family sports and entertainment complex in southeast Mesa has struggled to generate sufficient revenue to cover loan repayments since opening in February, despite claims by Legacy that the complex has brought in nearly a million visitors and over 3 million visits so far.

The $22 million in question is in an account set aside and authorized currently only for loan payments.

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