The owner of Nassau Coliseum will keep the venue closed indefinitely while they find someone else to take over operations, according to a story published today on Bloomberg, the financial news website.
Onexim Sports and Entertainment is looking for an investor to take over the debt on the building. Onexim operates the facility through a lease with Nassau County.
Bloomberg reported that the coronavirus has “slowed progress on a redevelopment project known as the Nassau Hub, which calls for the construction of offices, housing and retail space on roughly 70 acres of parking lots surrounding the arena.”
Onexim said in a statement that Covid-19 had seriously affected the Coliseum's finances.
“While we still believe in the enormous long term economic value of the Coliseum and the development of the surrounding land, we recognize that such value will be best realized by other parties,” the company said in its statement reported by Bloomberg.
Read the full story here.