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Financial troubles cast doubt on Wisconsin Herd's future in Oshkosh

Oshkosh Arena Reopens
Posted at 6:38 PM, May 16, 2024
  • According to tax records Fox Valley Basketball Inc., is behind $321,724.94 on property taxes
  • Wisconsin Herd President releases statement
  • Oshkosh Chamber expresses commitment to keeping the team in the city

 
The Oshkosh Arena, home to the Wisconsin Herd, is facing severe financial difficulties, raising concerns about the team's future in the city. According to Oshkosh tax records, the arena's owner, Fox Valley Basketball Inc., is behind on two property tax payments totaling $321,724.94. The next installment of $154,904.44 is due at the end of this month. If this payment is missed, the total back taxes, plus interest will approach half a million dollars.

This financial strain is not new for Fox Valley Pro Basketball. In 2018, just a year after the arena's construction, the company filed for Chapter 11 bankruptcy. More recently, in April of this year, the property was listed for sale.

Despite these issues, the Wisconsin Herd President remains optimistic and sent us this statement:

“The Wisconsin Herd is actively preparing for the 2024-25 season in Oshkosh,” said Wisconsin Herd President Steve Brandes.

When questioned about the possibility of the Herd relocating, Rob Kleman, President and CEO of the Oshkosh Chamber of Commerce

expressed a commitment to keeping the team in the city. "We're going to work very hard together with community partners to hopefully make sure that doesn't happen. It's not good for Oshkosh or the region," Kleman stated.

Kleman highlighted the economic impact of the Herd, noting that their 24 home games each year generate roughly $5 million in revenue for the city. He also credited Fox Valley Pro Basketball for revitalizing the Sawdust District since the arena was built.

Stay tuned for more updates on this developing story.