An Olympic grade training facility in Northeast Ohio has been sold. A Baltimore based investment firm has acquired Spire, in Geneva. The purchase price was not disclosed.
The 177-acre complex hosts a variety of high profile indoor and outdoor sporting events. Spire has had some financial setbacks, which caused the company to seek a buyer in March.
Spire’s Chief Operating Officer Jeff Orloff says the investment firm Axxella will take them to the next level.
"It’s somebody new coming into the community and into Cleveland and Northeast Ohio and we should be excited about that as Cleveland continues to grow and bring in new opportunities and this is just one of them so it’s great for everybody," Orloff said.
Orloff sees the facility growing with more events and new job opportunities. He says Spire has a huge economic impact on the region, and that it will continue to grow.