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Pyramid Theme Park - Not Pyramid Jail

JUNE 23, 2005 - Posted at 3:11 p.m. CDT

MEMPHIS, TN - A committee studying the future of The Pyramid is pushing to convert the nearly abandoned arena into an indoor theme park paired with a major destination retailer.

Consultants recommended the tourism/retail concept to the committee as opposed to demolishing the building.

Or accepting an offer that would pay the remaining $26.8 million in debt and convert the arena to federal offices with short-term holding cells for prisoners.

Destination retailers are called that because consumers make a special trip to shop there.

A group of Memphis-based marketing and development businesses support a theme park with eight to ten major thrill rides and an Egyptian-African theme.

FedEx Forum replaced The Pyramid as the city's primary arena when it opened last year to serve as home to Memphis' NBA franchise - the Grizzlies.

(Copyright 2005 by The Associated Press. All Rights Reserved.)