Private Investors Pull Out of Wigwam Deal

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A deal to transfer ownership of an iconic gymnasium to a group of private investors has unraveled. Our partners at The Herald Bulletin report Wigwam Sports & Entertainment LLC has informed the city of Anderson it will not take possession of the Wigwam next week as previously planned. The Anderson Community School Corp. is giving the city's redevelopment commission until September 2 to receive ownership of the shuttered facility, or it will be torn down.

The failed deal involved transferring ownership to the commission, who would then move it to the private investors.

Mayor Kevin Smith believes current issues will be resolved WSE could still be a part of future redevelopment.

The publication reports the private group was bringing $600,000 to the table for the project.

Economic Development Department Director Greg Winkler says there are “some prospects” for new partners, including a group from Indianapolis. He says if new investors are identified, new owners could be in place within 90 days.

Source: The Herald Bulletin