|The Wisconsin Herd is one of the largest creditors of the company that built the Oshkosh arena|
By Miles Maguire
The company that owns and operates the Menominee Nation Arena owes the Wisconsin Herd $340,000 in sponsor expenses, commissions and fees.
In a bankruptcy court filing made late Monday, Fox Valley Pro Basketball Inc. listed its creditors with the largest 20 unsecured claims, including the Herd, which is the minor league affiliate of the Milwaukee Bucks and the prime tenant at the arena.
In response to news of the filing, the Herd repeated its earlier statement of commitment to Oshkosh. "We remain committed today, and in the foreseeable future, to working with Bayland Buildings to operate Menominee Nation Arena and will continue to make it the best venue in the G League,” said Wisconsin Herd President Steve Brandes.
Bayland was the general contractor on the project and is likely the largest creditor overall. Its debts, roughly $13 million, are secured by a mortgage on the arena.
Bayland had hoped to force the arena into receivership, but this effort was thwarted by Fox Valley's Chapter 11 bankruptcy filing on Monday afternoon.
Those unsecured creditors making the list from Oshkosh are Blue Door Consulting, $181,629, and Eric Hoopman, $1 million. Blue Door has provided advertising and marketing services while Hoopman provided a loan in that amount at an interest rate of 18 percent, according to a court document. He has filed suit seeking the principal as well as accrued interest.
Blue Door did not immediately respond to a request for comment.
The largest unsecured creditor is listed as Peter and Carol Gehrke, of Amherst, who hold a promissory note for $3 million.