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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 ...

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