Arena Riga has changed ownership several times in the past decade.

RIGA — The ownership of Latvia’s largest sports arena changed hands last month in a secretive deal.

Latvia’s Rietumu Bank bought out Arena Riga from its three other owners, the Russian language newspaper Bizness & Baltija reported on Friday.

AR Entertainment, a subsidiary of Rietumu registered in Cyprus, bought out the remaining shares of Riga’s largest sports arena owned by Genādijam Bondarikam, his wife Elēna Bondarikam, and the firm Arena Invests.

The bank confirmed to the press that no changes to the arena’s management or schedule of events are planned and is not disclosing the terms of the purchase.

The facility has changed hands several times over the past decade. Given the lack of competitors among sports facilities, the bank expressed confidence that the buyout would be profitable.