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The Beat Goes on at Hard Rock Park

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  • The Beat Goes on at Hard Rock Park

    Reports coming out of Myrtle Beach are that Hard Rock Park has found a new buyer for the bargain price of $25 million. The new prospective owners FPI MB Entertainment are hoping to get the park re-opened by Memorial Day 2009.



    Hard Rock Park finds buyer for $25 million - Breaking News - Myrtle Beach Online

    Hard Rock Park may not be quiet for much longer.

    According to bankruptcy court documents filed today, the rock 'n' roll theme park has found a buyer, willing to pay $25 million for the property, as is. The park's purchaser, FPI MB Entertainment, has put down a $2.3 million down payment and is hoping to close the sale quickly, by Feb. 20 if possible.

    According to the asset purchase agreement, the price will go down $1 million if the sale isn't completed by Feb. 20 and will continue to drop $50,000 for each day after Feb. 20 until the sale is closed.

    The new buyers are hoping to reopen the park quickly. The reason for the quick sale, according to the court documents, is that the buyers are hoping to reopen the park's gates in a soft opening prior to Memorial Day -- with a full opening that weekend.

    The sale must still be approved by the bankruptcy court at a sale approval hearing Feb. 17.
    ... more at the link


  • #2
    Re: The Beat Goes on at Hard Rock Park

    Interesting, I look forward to reading more on the subject, once more details are out of course.

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    • #3
      Re: The Beat Goes on at Hard Rock Park

      This is great news.

      It was an absolute shock when I heard when this park was going to be built. I was even more stunned when I heard it was going under.

      What a steal...I hope it works out. We shall see...
      www.gregscoasterphotos.com <- Go there, it's good!

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      • #4
        Re: The Beat Goes on at Hard Rock Park

        I'm really glad to hear this. 25 million is nothing for a whole park. But will they have the money to outlast the economy and market the park well enough to let people know that it is there and is open?
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        • #5
          Re: The Beat Goes on at Hard Rock Park

          Heh, that's a great question - but think of all the free press they've gotten just because of all their financial troubles!

          25 mil is a steal considering that the B&M must have cost about half of that by itself. But it's a HUGE chunk of money if they can't make it profitable.
          www.gregscoasterphotos.com <- Go there, it's good!

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