Popular Phoenix-Area Sportspark Declares Bankruptcy

Eventhough the various sports options at Mesa’s Legacy Park appear to be attracting more customers than ever, the group is underwater when it comes to its bond payments, and is seeking Chapter 11 bankruptcy protection. The sports complex — which is made up of dozens of facilities, including a 3,000-seat outdoor stadium, a 2,800-seat indoor arena, 35 soccer/lacrosse/football fields, 57 indoor volleyball courts, eight baseball and softball fields, 20 basketball courts and more — opened in January 2022.

The Phoenix Business Journal reports, in total, the company owes more than $366.7 million to more than 200 creditors. The Arizona Industrial Development Authority funded the construction of the 320-acre park through a series of bonds – totaling $284 million. Legacy has been in default on its bond payments since last October.

Despite financial issues, the park was visited by more than 4.3 million people in 2022. But it appears that the cost to construct the park, larger than expected expenses and possible management issues led to the Chapter 11 petition.