WINSTON-SALEM, N.C. (AP) - Wake Forest University says it has completed its purchase of Joel Coliseum from the city of Winston-Salem.
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.''
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