With rumors flying Friday about the demise of megaclub Myth, two separate groups have come forward claiming to control the future of the multi-million dollar club.

One thing is for sure: the 38,000-square-foot Maplewood club shut down this week. The club’s founder, Michael Ogren, has vowed to reopen it Sept. 1.

Ogren said that in July he began leasing the club to a group that intended to buy it later. After it stopped paying the club's bills, Ogren said, he evicted the group on Wednesday.

Businessman Steve Sadowski, who identified himself as one of Ogren’s creditors, said he took over the club in July and has been trying to bring it out of debt. Sadowski said he refutes Ogren’s depiction of the club’s closing.

“[Ogren] does not control the club,” Sadowski said.

Sadowski described Myth as a club in serious financial trouble and in need of cash to keep operating.

"They let everyone go, but I will hire everyone back," Ogren said. He said he has been calling the club's concert promoters to assure them that Myth will reopen.

"I told everyone to just calm down," Ogren said. "You'll see. We'll be open Sept. 1."

Myth opened in August 2005 in a former Just for Feet shoe store near the Maplewood Mall, away from the downtown Minneapolis scene. In its four years, it has programmed mostly high-selling rock and rap acts, including Motley Crue, Marilyn Manson, Ludacris and Nas. But it was difficult to pigeonhole the club, which also showcased Elvis Costello and alt-crooner Regina Spektor, who is scheduled to perform at the club Sept. 11.

On Friday, some of the music scene's top promoters were still unclear about the future of the nightclub. Promoter Jack Trash of Sound In Motion is scheduled to bring trance superstar Tiesto to Myth on Oct. 30. Tiesto has sold out two previous shows at Myth, which has a capacity of more than 3,000 people.

"I'm going to give them a little bit of time," Trash said. "If I'm not feeling 100 percent safe with what they're doing, then I'm moving the show. And I believe other promoters are thinking the same."

When asked about the confusion surrounding the club’s ownership, Ogren said, "I own 100 percent of the club.”

Ogren said he was trying to sell the club to "pay down some debt" and still hopes to sell it in the spring.

In 2006, Ogren sold the Myth land and building in Maplewood for almost $10 million to auto dealer Denny Hecker, who this summer filed for bankruptcy owing creditors $767 million. Ogren said he bought the land and building back from Hecker in September 2007 and has had no business dealings with him since.

The club does not have any live acts scheduled until a Snow Patrol show on Sept. 10. Sadowski said that show, as well as the Spektor concert, could be in jeopardy.

“If I had to guess, I would say those shows are not going to go on – but I could be wrong,” Sadowski said.