Report: Memphis Pyramid sale could advance Bass Pro project

The Shelby County, Tenn., Commission voted Wednesday to sell its share of The Pyramid arena to the city of Memphis, a move that's expected to ease negotiations with prospective tenant Bass Pro Shops, the Memphis Commercial Appeal reports.

Talks of a Bass Pro megastore in the vacant Pyramid have been ongoing for several years. Last November, the county commission approved a development agreement with Springfield-based Bass Pro, instructing the retailer to begin negotiations and lay out design plans over the next year.

The county commission had previously opposed selling its 50 percent share of The Pyramid, and Wednesday's 8-5 approval followed two hours of discussion, according to the report. The deal, which still needs Memphis City Council approval, calls for the county to receive $3.5 million and forgiveness of $380,000 in unrelated costs.

Memphis City Councilman Bill Morrison told the Commercial Appeal that if the city gains full ownership of The Pyramid, it will be easier to negotiate with Bass Pro.

"Anytime you can get to the point of one government (negotiating) instead of two, it's going to be easier," he told the newspaper.[[In-content Ad]]