Canton's Hall of Fame Resort in Financial Crisis - Bankruptcy Looming?

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Purple Hayes

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It was reported that the HOF Resort (Disneyland of Football) is on the brink of bankruptcy, according to Sports Business Journal - lead-in paragraph to the article:

Hall of Fame development in Canton facing trouble as debts mount

The developer of the ambitious real estate project at the Pro Football Hall of Fame faces a financial crisis and admits it may go bankrupt.
www.sportsbusinessdaily.com www.sportsbusinessdaily.com

Hall of Fame development in Canton facing trouble as debts mount
"The developer of the ambitious real estate project at the Pro Football Hall of Fame faces a financial crisis and admits it may go bankrupt."

1) Are there implications for the Stadium and/or Canton City School District (hopefully, the kids don't get short-changed)?

2) Will the Canton Rep report this, especially now that the project's cheerleaders (and obviously biased reporters) are no longer present?

The article is behind a paywall.
 
 
They can't even finish the east side of the stadium and get the video boards up. I am all for the project, but the things are not looking very good.
 
So, I never completely understood the point of this project to begin with. People are either going to go the HOF Museum or not go. It's that simple. It doesn't really matter how much window dressing you put on the outside of it, the HOF is the attraction. Want more visitors, make the museum better and expand that. None of the proposed millions upon millions scheduled for the surrounding projects ever made much sense to me.
 
They managed to complete a $20 million redo of the downtown hotel. Open and taking reservations. Extra Covid charges may apply.
 
I had tried to find the original thread where this was discussed where there were some back and forth and "I told ya so's" after the HOF Resort appeared to be moving forward.

I don't want to see the project fail, wouldn't be good for the area, but my post is more about the entanglements with the Canton City Schools and hoping the kids at CCS don't get the short-end of the stick for some bad decisions by someone that may not have had acted independently. It seemed like a complex transaction and I didn't know if there were any unfulfilled commitments to the Schools/Football Team and Benson Stadium (perhaps it's separate?) that would impact the students/student-athletes. (and now that there has been turnover in Canton Rep ranks, will there be more accurate, fact-based reporting or just more rah-rah type stuff?)

yappi.com

HOF project

The plot thickens. This is sounding serious again. https://www.cantonrep.com/news/20190806/new-details-about-proposed-hall-of-fame-village-merger John Lee Petitmore said it will never be built so this must be fake news.
yappi.com yappi.com
 
I want it to succeed also. I don't follow any of it but don't understand how the NFL could let it "fail" whatever than means. I assume it will get bailed out somehow I just hope it does not negatively impact the school or city taxpayers. Nor Stark's or Ohio's for that matter. Not the best area or people to "invest" in.
 
Would be great if all these ideas came to fruition. I fondly remember visiting the HOF as a kid in the 80's several times, actually I've been there more as a kid when I lived in Western PA than I have as an adult living less than 10 miles away! Still wonder why it's not called the Steelers HOF but that's for a separate thread. It would most definitely be great for the County, why would anyone come here for any other reason?
 
We're lucky the HOF isn't moved to an area that could support the project that is planned. Other than HOF week, what is there in the area that would draw enough to support the project?

The NFL doesn't seem to be as interested in the HOF as people, assume they are. There's been a number of projects (Paul Brown museum) that received little support from them.
 
Yep - clearly nothing going on here. Janet Leigh and Purple Haze clearly on the inside track and nailed this one. Dopes.

In September construction started for the 75,000-square-foot Constellation Center for Excellence, a multi-use building that will anchor the stadium's west end.

Since September, HOF Village has hosted the NFL Alumni Academy, a player development program started by the NFL Alumni Association. Meanwhile, Sports Illustrated Studios is working with the company to develop a program tied to the alumni academy.

In October the company announced that the retail promenade would be anchored by a signature Don Shula’s restaurant and a Topgolf Swing Suites. HOF Resort also has struck several sponsorship agreements this year, including one with Republic Services of Ohio.

Aquarian is a holding company that provides debt and equity capital services. It has interests in several areas, including insurance, asset management, real estate, and technology.

HOF Resort expects the Constellation Center for Excellence will be open next year, while construction tied to the rest of the second phase should be completed by the end of 2023. Cost of phase II is projected at $300 million. A third phase of HOF Village construction is anticipated, with additional practice fields and other facilities.
 
Lol.
my2sense said:
Yep - clearly nothing going on here. Janet Leigh and Purple Haze clearly on the inside track and nailed this one. Dopes.

In September construction started for the 75,000-square-foot Constellation Center for Excellence, a multi-use building that will anchor the stadium's west end.

Since September, HOF Village has hosted the NFL Alumni Academy, a player development program started by the NFL Alumni Association. Meanwhile, Sports Illustrated Studios is working with the company to develop a program tied to the alumni academy.

In October the company announced that the retail promenade would be anchored by a signature Don Shula’s restaurant and a Topgolf Swing Suites. HOF Resort also has struck several sponsorship agreements this year, including one with Republic Services of Ohio.

Aquarian is a holding company that provides debt and equity capital services. It has interests in several areas, including insurance, asset management, real estate, and technology.

HOF Resort expects the Constellation Center for Excellence will be open next year, while construction tied to the rest of the second phase should be completed by the end of 2023. Cost of phase II is projected at $300 million. A third phase of HOF Village construction is anticipated, with additional practice fields and other facilities.
Click to expand...
Maybe at the ribbon cutting ceremony you could get the Easter Bunny or Santa Claus....maybe....Big Foot?
 
seems some of you are having a hard time understanding what a bridge loan is and why you get one.

Anyone cheering or rooting against this project going forward is a hater and can go kick rocks with your negativity.

No one has to ask to use the stadium JLP - you are getting bad information.

Canton is in a unique situation, and yes they are working with the HOF, and yes Baker shot his mouth off. IN saying that, there has been progress and maybe things do not get done as fast as was communicated with the initial ambitious timeline, but things are getting done. I never bought into the original timeline and have always felt Baker was a bad hire and a j@ck@$$

I am not going to root against it. No other school can say what Canton McKinley can say which is being partners with the Pro Football Hall of Fame which honors the greatest people involved with the sport of football. I hope things continue to progress and the "village" becomes a great attraction, and if you don't hope the same then Have a nice day.
 
bootleg said:
seems some of you are having a hard time understanding what a bridge loan is and why you get one.

Anyone cheering or rooting against this project going forward is a hater and can go kick rocks with your negativity.

No one has to ask to use the stadium JLP - you are getting bad information.

Canton is in a unique situation, and yes they are working with the HOF, and yes Baker shot his mouth off. IN saying that, there has been progress and maybe things do not get done as fast as was communicated with the initial ambitious timeline, but things are getting done. I never bought into the original timeline and have always felt Baker was a bad hire and a j@ck@$$

I am not going to root against it. No other school can say what Canton McKinley can say which is being partners with the Pro Football Hall of Fame which honors the greatest people involved with the sport of football. I hope things continue to progress and the "village" becomes a great attraction, and if you don't hope the same then Have a nice day.
Click to expand...
Not rooting against it, but can someone tell me what about this "village" will bring in so much tourism? I just don't understand what the attraction will be once it it built.
 
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