VIRGINIA BEACH, Va. (WAVY) — A new operating partner has been chosen for the Virginia Beach Sports Center, which has lost money annually since it opened in 2020. The Virginia Beach Convention & Visitors Bureau announced Thursday it has selected The Sports Facilities Companies as the new operating partner for the Virginia Beach Sports Center. It will manage all aspects of the center's operations — that includes marketing, staffing, guest services and maintenance. "The partnership with The Sports Facilities Companies brings a new level of operational excellence to the Virginia Beach Sports Center," said Nancy Helman, director of Virginia Beach Convention & Visitors Bureau, in a statement. "SFC's proven track record of managing high-performing sports venues will be instrumental in further elevating our incredible facility as a key economic driver for our city while also enriching the recreational opportunities available to our residents." SFC was selected in a competitive bidding process, and in a news release from the city, it cited the company's expertise in managing ports and event facilities across the United States. The Virginia Beach Sports Center has become a critical driver of local tourism, especially during the off-season, according to the city's convention and visitor's bureau, with hotel bookings going up and bolstering the city’s economy. However, about a year ago, city council voted to spend $6.1 million to buy out the contract to its previous operator after an audit found the facility had been struggling financially. The audit indicated that the $68 million facility had lost more than $1.3 million per year since its 2020 opening. Previously: Council votes to buy out operator of Virginia Beach Sports Center The city used $6.1 million from the Tourism Investment Program, which draws from meals, admissions and hotel taxes, for the settlement agreement with previous operator, Fredericksburg-based Eastern Sports Management, with $4.6 million of that figure paying for all the furniture, fixtures and equipment bought by ESM, with the other $1.5 million used to pay off management fees, cash advances and unpaid vendors. The city also used another $500,000 to put in place an emergency operator for the venue until a permanent manager was chosen. SFC, since beginning the management transition more than six months ago, has added customer service training for staff and expanded its marketing efforts to the sports community, according to the city's convention and visitor's bureau, as it aims to position the Virginia Beach Sports Center as a premier sports and recreation center while also hosting local leagues and clinics. The 285,000-square-foot, column-free facility, which opened in October 2020, accommodates up to 5,000 spectators and has 12 basketball courts, 24 volleyball courts, and a 200-meter hydraulic track — one of only a few in the country. Along with SFC as the new operating partner, Ryan Ladd is the facility's general manager, according to his LinkedIn biography. He had been serving as the facility's interim general manager since January. Previously, he had been the director of events and the sports director at the Cedar Point Sports Center in Sandusky, Ohio. “Virginia Beach Sports Center is an economic engine for this community and a tremendous asset for participants and visitors who come from across the state and the country,” said Jason Clement, CEO of The Sports Facilities Companies, in a statement. “Our focus is on amplifying that impact by implementing best-in-class operational strategies, increasing visibility and enhancing community programs. We aim to position the Virginia Beach Sports Center as a leading venue for tournaments while also ensuring it remains a vital resource for local residents and businesses.” The facility, which hosts events year-round, is in the midst of its run as the host site for the NCAA Division III Indoor Track & Field Championships, having previously been awarded the championships for the 2023 through 2026 seasons. It will once again return to the Resort City in 2028. The Division I Indoor Track & Field Championships will be at the Virginia Beach Sports Center next March.