[1] In 1990, businessman Sidney Shlenker (known locally for managing construction of the Memphis Pyramid) planned to shut down the museum to make space for new bars and restaurants on the island.

The announcement of these plans was met with backlash by the West Tennessee Historical Society, which cooperated with the Mud Island Foundation and then-Mayor of Memphis Richard Hackett to intervene and save the museum from closure.

In 2024, plans were announced to redevelop the museum into an interactive experience titled "Baron Von Opperbean and the River of Time".

[8] Several items relevant to the Mississippi River's role in the Civil War were on display, most notably a life-size replica of a Union City-class ironclad gunboat.

[9] The museum was populated by wax sculptures of historical figures linked to the Mississippi River, such as Mark Twain and Mike Fink.