The Oxbow Saloon is remaining in the familiar hands of Robert and Laura Herrera. The historic Main Street building was to have been auctioned at the end of July, but the Herreras filed Chapter 11 bankruptcy to hold onto the business.
The beneficiary of the auction was to have been lienholder MGF Funding Inc. of Mesa.
The Herreras have owned the Oxbow since December 2005 and are now reorganizing its finances and working to build the business back up.
Terry Straughn, who has joined the Herreras as events manager, said the Herreras "are the ones who make it happen. They're here 24-7."
Together they plan to get the kitchen and restaurant operational again and get the hotel rooms open.
"We want the Oxbow to be the historical centerpiece of Payson again," Laura Herrera said.
"It will be a showpiece and as authentic as possible and a place for families, too," Straughn said.
To get things rolling, the Herreras plan to have four different bands providing entertainment during Rodeo Weekend next week and are putting on the Rodeo Dance.
Nathan Dean, Rage-N-River, Gibson & Fitch and Rondavous will provide the entertainment. Music will be presented both inside and outside. Thursday, Friday and Saturday performances will start about 9 p.m. and continue until 1 a.m. There will be live music from 1 p.m. to 5 p.m. Sunday.
The grills will be hot in the patio area, as the Herreras will be serving hot dogs, hamburgers and cheeseburgers, nachos and pretzels.
As a special accommodation for guests, the Herreras will have a shuttle running between the rodeo grounds and the Oxbow after the evening rodeo performances on Friday and Saturday.