Well… the Crystal Cathedral board has come to the realization that they will ultimately have to sell the landmark church.
But to who?
The CC board has picked Chapman University as their preferred buyer. Chapman’s bid is $50 million, roughly the amount owed creditors by the CC. Chapman would allow the CC to ‘rent’ the main cathedral building for $150,000 a month (with some increases) for about 15 years… then the CC would have an option to purchase the property back.
Problem is… the local catholic diocese has offered $53.6 million… with the stipulation that the CC would have to move out in 3 years. Of course, the CC board doesn’t like that option.
From what I can tell… it will go to the hands of the judge to make the final verdict, but it looks like the creditors may be in favor of this deal.
In one of the corniest and oddest statements yet… Robert Schuller has now switched his focus and dream:
“We look forward to focusing on our new dream: buying the core campus back.”
Now THAT’s positive thinking!
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