“For Chesterfield County, this would’ve been ideal. Prime location here on 288,” said Kenneth Windle.
On May 22, the 250-acre campus that could’ve been a world-class venue for athletes near and far may be on the auction block.
The sports complex defaulted on a 15-million dollar loan and if SportsQuest LLC doesn’t come through with the money or file for bankruptcy the property could go to the highest bidder in a foreclosure auction.
“I’m kind of more in shock that disappointed.”
David Hong manages Padow’s deli shops at nearby Charter Colony parkway.
“It looked like the right idea. The right plan and everything. It had the fields and everything. I was kind of hoping the complex was going to get built here too,” said Hong.
Hong had anticipated a 30 to 40% jump in his business with the multi-million dollar deal.
“You had people from New Jersey, Pennsylvania, Florida coming out here for these tournaments,” said Hong.
And despite the legal and financial troubles mounting against SportsQuest, county leaders tell CBS 6 tournaments have not been impacted or canceled.
But the question remains; what will the future hold for this project?
“I’m sad to see that it might not make it,” said Windle. “I hope that it could be that they turn it around.”
In a statement to CBS 6, Sportsquest LLC’s Board of Directors will not attempt to stop the scheduled foreclosure by Shaw Industries because the Board believes that the amount of debt owed on the real estate is significantly more than the value of the real estate.
SportsQuest has been and is in communications with Chesterfield County and with Shaw Industries about “field schedules.”
The communications have been toward the best interest of various stakeholders and their continued utilization of the fields.
Sportsquest is in the process of retaining the Hirschler-Fleischer law firm for insolvency-related advice and intends to carefully explore all available legal options.