|WFU purchases Joel Coliseum from city for $8M|
|Written by Admin|
|Thursday, 01 August 2013 14:36|
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 says the school plans improvements to the venue's infrastructure and says ``we are determined to make it an even greater asset for our community.''