DoneWaiting is reporting that High Five, 1225 N. High St., has been sold to three investors, including Earl "Skully" Webb of Skully's Music Diner.

UPDATE: I just talked to Nick Wolak, the former owner, and Ron Ringle, one of the new owners. Wolak said he has been looking to unload the bar for a while, not because it was a bad experience but because he wanted to focus on his work with Evolved Body Art and his family life.

When Wolak and two partners took over High Five in May 2004, he was just supposed to be an investor with little involvement in day-to-day management. But his other two partners quickly departed, leaving him to put much more work into the bar than he originally intended.

The former owner said he has fielded numerous offers for the bar over the years, but this one seems right. "These guys, I think, have a strong track record," he said. "They’re much better equipped than I ever was."

Wolak sold High Five to a trio of investors: •Mike Irwin, who used to run Ravari Room •Earl "Skully" Webb, the owner of Skully's Music Diner •Ron Ringle (aka "Red"), who has run a number of kitchens around town.

Ringle said the new ownership team took over High Five yesterday and are currently "getting their feet wet" at the bar. He said they don't plan any major overhauls in the near future, and any significant changes they might decide on won't take effect for several months.

I'm going to talk with the new owners at length tomorrow, so I'll try to get more details up here then.