PORTSMOUTH, Va. (WVEC) -- The Virginia Sports Hall of Fame Museum has been in downtown Portsmouth since 2005 but it's looking at a potential move to Virginia Beach.

It's been a fixture on High St. for more than a decade with the memories of nearly 400 athletes inside, but financial troubles are creeping up and it's time could soon be up.

"The building is just not drawing the visitation that was envisioned," said Joel Rubin, Chairman of the Virginia Sports Hall of Fame board.

He said the museum has always relied heavily on state and city funding to survive but the money is drying up, leaving leaders to figure out how to keep it going.

The $3 million left on the mortgage of the 30,000 square foot building and tolls at the tunnels taxing on visitors aren't helping. Rubin said reducing costs dramatically is what they need.

"Our board basically told our president and I to go look for a more sustainable option," he said.

That option, which will be proposed to Virginia City city councilors next Tuesday includes sharing a potential field house at the oceanfront.

Rubin says whatever the next move is, it's got to be something long-term and something sustainable.

"Our brand is still very strong. Athletes and coaches across the state want to be in the Virginia Sports Hall of Fame. Our challenge has been maintaining our building," said Rubin.

He said leaders have until the end of December to present a sustainability plan.