There are major improvements coming to the Blue Coss Arena.

There are major improvements coming to the Blue Coss Arena as well as a change in ownership for a championship team in Rochester.

The presentation of the new owners and the announcement of the funding for the improvements took place outside the arena on the side of the Genesee River.

Some of the money pledged by the State Assembly, State Senate, City of Rochester and Pegula Sports and Entertainment will go towards a new scoreboard, improvements to concession stands within the arena as well as redefining the riverfront terrace.

One rendering also shows plans to close Broad Street to vehicles and make it a pedestrian walkway that connects the stadium to the convention center.

"I grew up here, this is home to me," stated Kim Pegula, president of PSE. "I have such great memories here, especially at the war memorial. I spent a lot of time here. My brother played hockey here. My parents took me here for hockey games, so to have it still standing here and to reinvest in it to have future generations grow up with it, super excited about that."

Mayor Lovely Warren added, "This is a game changer for Rochester. We know what they've done in western New York with the Buffalo Bills and the Sabres. Doing that here in Rochester, stepping up and buying the Knighthawks' franchise, and then on top of that making sure the Amerks are alive and well in Rochester, that's what we want and that's what we needed."