MEMPHIS, TN (WMC-TV) - It has been years since Bass Pro Shops first said it wanted to take over the Pyramid. Now, Shelby County leaders fear the economic crisis will cause the retailer to bail out for good.
"Anybody would be concerned. I'm not saying it is reality. I hope it's not real, but I mean given the economic conditions of the country it is a concern," Memphis CFO Robert Lipscomb said.
Lipscomb is concerned the project he has been working on for three years may fall through. The agreement Bass Pro Shops signed back in August has expired.
It stated, "this developmental agreement must be executed by all parties if at all no later than September 15th, 2008."
That was almost two months ago, leaving room for Bass Pro, in this tough economy, to cut bait and go home.
"If they felt that they were going to be profitable by building a supercenter here, I think they would do it anyway," Sydney Chism of the Shelby County Commission said.
Some Shelby County Commissioners remain hopeful Bass Pro could still come here, but Wednesday a commission committee voted against a resolution giving Mayor A C Wharton the authority to sign the Pyramid agreement with Bass Pro.
"I don't want to give away the farm. We've got a great place here. We've got a great building here. There's some great uses for it," Flinn said.
So even if the Pyramid developmental plan is approved in front of the full Shelby County Commission Monday, Lipscomb remains cautiously optimistic he can reel Bass Pro into the Pyramid.