WINSTON-SALEM, N.C. — The Winston-Salem City Council voted 5-2 on Monday night to sell LJVM Coliseum to Wake Forest University for $8 million. Selling the coliseum to WFU is subject to an open bid over the next 10 days.
Council members James Taylor, Jr. and Derwin Montgomery voted against the sale concerned over a number of issues including preservation of the Lawrence Joel name. Wake Forest University has agreed to keep the Joel name on the facade, but can sell naming rights to the arena.
The city council also unanimously approved an intent to sell Bowman Gray Stadium to Winston-Salem State University for $7.1 million. The sale is pending approval from the state legislature.
Residents packed the city council meeting and filled an over flow room. Only one person, a WFU official, spoke in favor of the city selling LJVM to Wake with the rest of the public speakers asking city council to vote against selling both facilities.