MORGANTOWN – Gold & Blue Enterprises, the nonprofit fundraising arm of WVU Athletics, purchased the former Hotel M property at 1400 Saratoga Avenue in Star City.
Michael Fragale, director of communications with WVU Athletics, said the purchase was completed on Jan. 30. Ownership has since been transferred to the WVU Board of Governors.
“WVU have not finalized plans for the property at this time. Its strategic location next to Hope Coliseum provides the opportunity for future growth and benefit to WVU and the community,” Fragale said.
The property, three parcels totaling 2.88 acres, was purchased at auction for $3,975,000, or just over $1.38 million per acre.
Matt Gutta Auction and Realty Service handled the transaction on behalf of the seller, Sahaj Morgantown LLC.
Gutta said there were multiple bidders interested in the property, which had been up for sale for a number of years. Gutta’s agency got involved in October 2025 and listed the property for auction.
“This was a very successful transaction for everyone involved. I would like to thank all the parties for their professionalism in getting this deal across the finish line, including the law firms of Steptoe and Johnson, PLLC, and Bowles Rice, LLP,” Gutta said. “Also, we were fortunate to have worked with Gold & Blue, Inc. and their team. We know that this property has a bright future and wish them the very best.”
A June press release from WVU Athletics announcing the launch of Gold & Blue Enterprises explains the in-house agency will play a central role in advancing the mission of WVU Athletics “by focusing on strategic initiatives that drive success in competition and in the evolving Name, Image, and Likeness (NIL) landscape.”
“By serving as a key partner in the development of a comprehensive, innovative and sustainable NIL and revenue-generating ecosystem, Gold & Blue Enterprises will support Mountaineer student-athletes and position WVU as a national leader in the future of collegiate athletics.”
