MESA, AZ — Legacy Park, a massive sports and entertainment complex in Mesa, opened in January 2022. Now just 16 months later, the owner of Legacy Cares has filed for bankruptcy.
Many parents ABC15 spoke to on Monday said they were unaware of the situation.
"It's concerning when anybody siphons people like that, and the hope is that they'll do the right thing. I would hope that they would pay the vendors what they need to because I'm sure there's going to be reluctance from other vendors to come in after that kind of news," said a woman whose kids play volleyball at the complex.
Court documents show Legacy Cares filed for bankruptcy on May 1, reporting more than $366.7 million in total liabilities. They told ABC15 they have hired a new management company and an investment banking firm to provide options as it enters Chapter 11.
"This is probably their only way to, you know, to get out of the situation without just completely destroying any future or destroying any, you know, financial credibility that they may have," said Alison Briggs, an attorney with My Arizona Lawyers.
Legacy Cares also listed in their filing the top 20 creditors with the largest unsecured claims. The first three are:
- Fieldturf USA, Inc of Calhoun, GA - $4,974,972.13
- Icing Investment Holding, LLC of Phoenix, AZ - $2,436,351.20
- Spectra Food Services & Hospitality of Philadelphia, PA $1,378,648.47
"It's not ideal, certainly, when somebody files a bankruptcy - business or individual - because a lot of people are not going to get paid what they originally contracted for. But it's also, I mean... this is probably the only way that they would get paid anything," said Briggs.
Legacy Cares says they do not believe there will be a negative impact on community and business partnerships. Although, Briggs says it's too early to say for sure.
Legacy Cares tells ABC15 during the bankruptcy process, Legacy Park will continue to operate as normal.
Parents, who love the complex, are just hoping for the best outcome.
