Bond Financing for USA Hockey Foundation’s Acquisition of Compuware ArenaNews | July 1, 2015
A team of Kutak Rock attorneys, led by partner Fred Marienthal of the firm’s Denver office, served as bond counsel in the USA Hockey Foundation’s $19.5 million bond financing to acquire the Compuware Arena in Plymouth, Michigan. The USA Hockey Foundation purchased the arena through a subsidiary on March 31, 2015 to house USA Hockey’s National Team Development Program. Kutak Rock was bond counsel to the Colorado Educational and Cultural Facilities Authority.
Compuware Arena will serve as the new home for USA Hockey’s two national development teams for the 2015-2016 season. It will be available for use by local youth and high school hockey programs. The arena will also host a variety of community events including concerts, graduations and trade shows.
USA Hockey plans to expand the arena for additional office space, training facilities and a locker room remodel. The current 170,000 square-foot main arena includes one main seating level, four suites, two press boxes, more than 3,500 seats and a NHL-sized ice. The property has a secondary arena with an Olympic-sized sheet of ice, which is regularly used for ice hockey practice, figure skating training and public skating sessions.