The bankrupt owners of the Menominee Nation Arena in Oshkosh have a new repayment deal with their largest creditor.
Fox Valley Pro Basketball and Bayland Buildings went to mediation to hammer out an agreement.
Bayland will receive $68,000 a month toward the construction loan for the next three years. That amount will climb to $76,000 a month for the following 22 years.
Bayland will also have a right to 37 percent of the arena’s net profits until the $13 million construction debt is settled.
Fox Valley Pro Basketball wants the bankruptcy court to approve its re-organizational plan by September 1st, or it will turn the arena over to Bayland.
