Memphis city leaders and Mayor Willie Herenton presented a plan to sell The Pyramid, the arena on downtown's wanterfront, to Bass Pro Shops, who would convert the unique structure into the world's largest sporting-goods shop.
The plan called for a $100-million investment in the infrequently used facility, which would be renovated into a store, aquarium and 200-room hotel. Given the passion for fishing generally in the South, it would seem like such a megafacility would be bound to succeed.
Still, $100 million is a lot of money, especially in rough economic times, and most of the funding would come from federal, state, city and county sources; some existing debt on the building would need to be paid off as well, and Bass Pro Shops would pay a yearly rent of $1 million for 20 years.
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