Negotiations for St. Charles County to Sell Family Arena Are Off

Michael Calhoun
November 29, 2018 - 5:52 pm

Family Arena

ST. CHARLES (KMOX) -- The deal is off.  A mystery group who'd been negotiating to buy Family Arena from St. Charles County was unable to back up their bid, and so negotiations are over.

"The initial offer to purchase the building was an unsolicited offer," County Director of Finance Bob Schnur said Thursday. "We were not looking for a buyer, so it has been business-as-usual throughout this entire process."

What happened to cause the bid to fail?

"When it came time to really put the consideration forward for the deal, that party was unable to do so," he explains. The county would not release the identity of the would-be purchaser.

Schnur says the calendar has been full lately at Family Arena and they're even going to announce a new indoor football team sometime soon.

He says the arena is financially "stable" for the county -- but wouldn't say it makes money for them.

Of course, he says, if another unsolicited offer comes in, they'll listen. That includes any offer to develop the land under or around the arena.