Winston-Salem, NC -- The City of Winston-Salem is considering selling Lawrence Joel Veterans Memorial Coliseum and Bowman Gray Stadium.
City manager Lee Garrity tells WFMY News 2 the city is looking to decrease costs. Garrity says the Coliseum complex, including Bowman Gray, have an annual operating loss averaging $850,000 over the past five years.
Garrity says the city is looking at four options. The city could sell the Coliseum to Wake Forest University and Bowman Stadium to Winston-Salem State University. Garrity says the universities are looking at the revenue, expenses and structural information.
Wake Forest has an extended lease with Joel Coliseum and Winston-Salem State has one with Bowman Gray. A second option would be for Winston-Salem to extend those leases.
Garrity says a third option would be the city maintains ownership and nothing changes, Or, Winston-Salem could keep ownership and hire an outside firm to manage the coliseum and stadium.
Garrity says any deal would keep racing at Bowman Gray and Joel Coliseum's name. He also wants to keep Joel Coliseum available for concerts and community events.You can read the city's information sheet about the proposals by clicking here.
WFMY News 2