WWE looking for new Summerslam venue after Izod Center shut down

The WWE is looking for a new home for Summerslam after the New Jersey Sports and Exposition Authority voted this afternoon to shut down the 34-year-old building at the of the month.

According to NJ.com, the building's remaining events will be moved to the Prudential Center in Newark, N.J., but the WWE has yet to announce whether Summerslam would make the move as well.

PWInsider.com received a statement from the WWE regarding the matter.

"WWE is currently looking at alternatives and we are confident that we will come up with an equivalent, if not better, option for Summerslam."

Summerslam is scheduled to take place Sunday, Aug. 23.

NJ.com reports that the reason for the sudden closure of the historic building is due to mounting financial losses, which currently sit at $8.5 million.

From the report:

Officials said the Izod Center's continuing losses left them no choice but to temporarily shut down the facility. In its agreement with Prudential, the state will keep the arena dark for at least two years, receiving $2 million in compensation for the added events.

NJ.com also reported that the vote was not unanimous, but was heavily in favor of the shut down. Of the 12 votes tallied, 10 were in favor of closing the building.

The Izod Center, as it is known as now, has hosted a number of wrestling events during its 34 years in existence, including a slew of WWE television tapings and pay-per-views.

Among the major WWE events that emanated from the venue were Summerslam (1989, 1997, 2007), King of the Ring (2001) and WWE Fan Axxess (2013).

The last WWE pay-per-view at the Izod Center was Extreme Rules in 2013.