USA Gymnastics canceled its agreement to purchase Bela and Martha Karolyi‘s training facility in Texas.
“The decision was made for a variety of reasons, including but not limited to unexpected financial expenditures associated with the purchase,” USA Gymnastics said in a statement Tuesday.
USA Gymnastics, which holds women’s national team camps at the Karolyi ranch, is continuing under its current lease agreement while exploring alternative locations for camps.
USA Gymnastics announced last July that it reached an agreement to purchase 36.2 acres of the 2,000-acre Karolyi ranch in Huntsville, Texas, including three training gyms, housing for up to 300 athletes and coaches as well as a dance studio, dining hall, medical and rehab facilities and recreational areas.