Wake Forest buys Joel Coliseum

Updated: August 1, 2013, 8:30 PM ET
Associated Press

WINSTON-SALEM, N.C. -- Wake Forest University says it has completed its purchase of Joel Coliseum from the city of Winston-Salem.

The school announced its purchase Thursday. City manager Lee Garrity told The Associated Press that the price was $8 million and that the school has committed to spend $10 million in capital improvements.

City council approved the sale in May.

Wake Forest owns the 15,000-seat arena and the 33 surrounding acres.

Athletic director Ron Wellman says the school plans improvements to the venue's infrastructure and said, "We are determined to make it an even greater asset for our community."

Copyright 2013 by The Associated Press


Use a Facebook account to add a comment, subject to Facebook's Terms of Service and Privacy Policy. Your Facebook name, photo & other personal information you make public on Facebook will appear with your comment, and may be used on ESPN's media platforms. Learn more.