The city-owned Glens Falls Civic Center is going on the auction block.
Mayor Jack Diamond says the arena has been operating at a loss since it was built in 1979. He says there's a projected shortfall of $900,000 this year based on events booked so far.
The 160,000-square-foot arena seats 4,800 and sits on more than 3.5 acres of land downtown.
Bidding is set to begin Aug. 18 and starts at $1.5 million. The mayor says it's appraised at $1.8 million.
The winning bidder would have to honor the lease for the newly arrived Adirondack Flames of the American Hockey League, as well as the management agreement with Global Spectrum.
Glens Falls is 45 miles north of Albany.