Funding Gaps Stall Ambitious Development
Momentum slowed as financing dried up, halting progress on several marquee projects, including the partially constructed Gameday Bay water park and a planned on-site Hilton hotel. By Sept. 30, the company had accumulated a $315.7 million deficit, according to its most recent quarterly report.
The public version of the company launched in July 2020 and traded on the NASDAQ Capital Market until it was delisted in June 2025 after failing to hold an annual shareholder meeting. It later slipped into over-the-counter trading, with shares valued at less than $1.
Shareholder Vote Clears the Way
The plan to take the company private was unveiled in May, calling for HOFV Holdings to acquire all outstanding shares at 90 cents per share. Approval required two shareholder votes, finally secured in September, followed by delays as lenders and the company negotiated final terms.
No firm timeline has been released for when stalled construction will resume.
Community Leaders Welcome the Shift
Local officials and partners voiced support, framing the merger as a reset rather than a retreat.
“This milestone represents meaningful progress for our city,” Canton Mayor William V. Sherer II said in a prepared statement, pointing to renewed collaboration and economic opportunity for residents and visitors alike.
Allison Bussey, president of Visit Canton, said the move strengthens the city’s standing as a regional destination and reinforces momentum built in recent years.
Construction partner Welty Construction echoed that optimism. “This reflects the dedication of our partners and community stakeholders,” said Don Taylor, the firm’s president and CEO. He added that the company remains committed to quality, safety and care as the Village evolves.
