Montclair State University will assume ownership of the Floyd Hall Arena ice rink that is located on campus.

The area is home to the university’s nationally ranked ice hockey clubs, high school figure skating clubs and a physical therapy provider.

“The university was approached by Floyd Hall, that he would like to change the terms of the leasing. It was a lease that extended potentially to 2047,” says Montclair State Vice President of Student Development Karen Pennington. “I believe he was looking to do something different. So, we were excited about the possibility of owning the arena."

Pennington says this was about a $10 million purchase.