Freestyle Music Park: Prev. Hard Rock Park

Miller Lite · #1 02-11-2009, 06:48 AM

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.

Here's a link to the rest of the info: Hard Rock Park finds buyer for $25 million - Local - Myrtle Beach Online

This is great news for us theme park guys. I know alot of people didn't really like the park but you've got to love it when a park can come back from the dead like this! I'm excited to see what this new company can do for the park.

CoasterKid_2006 · #2 02-11-2009, 07:58 AM

It's not exactly coming back from the dead, that'd be like Opry Land coming back. But yes, this is pretty awesome news!
Any news on what the new owners will change. Or are they planning on keeping the park a park at all?

**Leo C** · #3 02-11-2009, 08:39 AM

If they actually reopen, I need to get down there.

violakat03 · #4 02-11-2009, 09:52 AM

This is really a giant 'if' ... they want it to be sold with no liens. It's going to be hard for them to get the courts to agree to that. Especially as from what I've been reading, they're the highest bidder of multiples - if the next highest bidder down says they'll take it with the liens in place, then it'll go to them. However, either way, it sounds like there's a very good chance of a sale being made this season. Whether it will operate again is the biggest question - the current bidder wants to reopen it, but who's to say the other bidders are planning the same?

I'm definitely hoping that the sale will happen and that the park will reopen. I didn't have the opportunity to visit in 2008 so I'd love to have another chance at it in years to come.

Racer · #5 02-11-2009, 10:15 AM

I hope that the park reopens so I can get credits. That's not the only reason, but since MBP, Myrtle beach can't let any other parks go.

Jerry S · #6 02-11-2009, 12:02 PM

Quote:

Originally Posted by CoasterKid_2006

It's not exactly coming back from the dead, that'd be like Opry Land coming back.

It's like it was in a coma, and they were about to pull the plug, and now it looks like it might be waking up.

**Wes** · #7 02-11-2009, 12:27 PM

I hope it goes through, I can't imagine why the judge wouldn't let it, unless the company is in question financially.

The park is really nice, I just hope they get somebody that has a clue on how to run a park.

**Leo C** · #8 02-11-2009, 01:51 PM

Maybe I have to come down during its first season back cause look at that first season.

Carowinds 73-03 · #9 02-11-2009, 02:57 PM

This will be very intresting if the sale goes through. I can't believe someone is going to get this park for 25 million. I hope the new owners do something good and turn the park around.

I know SFI & CF are in major debt but if you have a chance at a park only a year old in a prime location such as Myrtle Beach how can you not fork over $25 million for it.

I am shocked that more parties are not fighting for this park for only $25 million.

violakat03 · #10 02-11-2009, 04:25 PM

Quote:

Originally Posted by Carowinds 73-03

This will be very intresting if the sale goes through. I can't believe someone is going to get this park for 25 million. I hope the new owners do something good and turn the park around.

I know SFI & CF are in major debt but if you have a chance at a park only a year old in a prime location such as Myrtle Beach how can you not fork over $25 million for it.

I am shocked that more parties are not fighting for this park for only $25 million.

Because no one will let them borrow another $25 million? Or they may just not be interested in expanding their franchise. I'm glad SFI isn't interested in it, they'd destroy all that nice theming through neglect. CF probably isn't interested in it because it is such a highly themed park, and they're more family friendly amusement parks rather than theme parks - they're de-theming the Paramount parks a little bit more each year, and they probably realize that'd be a bad idea with HRP, because it's theming is more cohesive and integral to the park atmosphere. It would fit well alongside the Busch Gardens parks if InBev was actually interested in keeping them.

**Leo C** · #11 02-11-2009, 07:04 PM

I guess I considered Six Flags New Orleans as that one extra park SF could get. They got it and Mother Nature screwed it up. Maybe it was a sign.

Did Cedar Fair trademark "Power City"? Maybe the new company could "Power City" everything.

Johnny Upsidedown · #12 02-11-2009, 11:35 PM

This is interesting news. Although I have a lot of questions that I know will get answered in the coming months.
The Hard Rock name is probably going to be gone so I assume a new name. There was an article a few weeks ago and it said they pulled the name because of legal issues.

So what I wonder is the names of rides and themeing of the rides.. I wonder if the new owners area going to pay the fees to use the rock band names. Or if they will do a simple name change and retheme over the next seasons. Part of the problems the orginal owners had was all the royalties and extra money they were paying to the HR name, Led Zep name, Eagels,, and the list goes on. So to make this park make money it would make sense to get ride of all the extra royalties...

I also think that a Memorial day opening is a bit ambitious which is why I wonder about the rides and names.. 2 to 3 months is just not enough time to make all the changes or at least to make the changes in a proper way. I mean you can always put up some cheesee ride names and some cheap graphics but there is alot that has to be done.

So all in all its going to be interesting to see what ultimatly happens with new owners and what type of vision they have for the park..

**Leo C** · #13 02-12-2009, 12:18 AM

If they would really want to make it by Memorial Day, they might have to cover the names. I guess the place won't be called Citi Bank Park. If they named it like Everland's T Express Korean style, Led Zeppellin would be renamed T-Mobile Express where you could choose your own onboard ringtone.

Johnny Upsidedown · #14 02-12-2009, 12:43 AM

Well, the plot thickins.. Seems they have a second bidder.. And one other thing of interest if the FPI buys the park

Quote .... The firm plans to revamp rides, change its promotion and design new attractions and shows.

Read more here WIS News 10 - Columbia, South Carolina | 2 buyers looking at HRP

Racer · #15 02-12-2009, 10:48 AM

Quote:

Originally Posted by violakat03

I'm glad SFI isn't interested in it, they'd destroy all that nice theming through neglect.

I'd bet that whoever buys it will get rid of the Hard Rock theming anyways. It could be completely rethemed buy whoever buys it.

violakat03 · #16 02-12-2009, 11:35 AM

Quote:

Originally Posted by Racer

I'd bet that whoever buys it will get rid of the Hard Rock theming anyways. It could be completely rethemed buy whoever buys it.

I'd rather see it purposely removed and re-themed than to be neglected and fall apart over the course of a decade.

**Leo C** · #17 02-12-2009, 02:39 PM

I did a check on the Hard Rock Brand site. I checked as deep as their logo's page, Corporate News, etc.etc. and they really removed any mention of the park. They really dislike, distanced themselves from that place. The Park tab is gone.

Johnny Upsidedown · #18 02-12-2009, 07:40 PM

A little more on the second bidder has surfaced..
Second bidder plans changes for Hard Rock Park : News : WPDE

They would keep the music theme with out the hard rock and go to a pay per ride structure for priceing or a ride all day armband...

**Leo C** · #19 02-12-2009, 07:50 PM

That would be the biggest pay per ride with a B&M. It's a worthwhile structure to look into since the place does not look big.

ElBarto · #20 02-13-2009, 02:55 AM

If I may, I'd like to play Devil's Advocate for a minute...

*turns to Devil's Advocate arcade game, battles for ten minutes, loses...*

Okay what was I talking about again? Oh, right...

I don't see how some random company that buys this park is going to be successful. If the "Hard Rock Park" name can't get enough guests to visit Myrtle Beach, how is some generic park name with little to no "theming reference" to push it along the way going to succeed in years to come?

I think the wristband/pay per ride idea is fine, and it will get more people to the park. But again, I just don't think there are enough original ideas in the park to pull enough guests from around the country in order for the park to make some profit. Unless these people buying the park are paying $25 Million for the park, and have another $50-$75 million to expand/re-vamp/re-organize and advertise the hell out of the place. Then you're $100 Million in, and you have yet to make any of it back.

I understand the concern to Theme Park Enthusiasts, etc., I just don't think the logistics of it all is very realistic.

**Leo C** · #21 02-13-2009, 08:13 AM

Good point. It's not like having a smaller go cart facility with a few amusement rides in Myrtle Beach. That even closed up.

Michael C · #22 02-13-2009, 12:21 PM

HArd Rock pulled their name a couple weeks ago. Why woudl a new owner want it. It's not A strong name when it comes to a park. It's not worth the 2.5 million needed to keep the name. reevaluating the other naming rights might also be worth the time. they may not be worth the cost. While Led Zeplin is a solid name Eagles Life in the fast lane is a bit week in my mind. I woudl liek to see the moody Blues dark ride stay.

As for making it work it woudl not take another 50 million. You already have a strong park structure. They need to price the park within reason. Have a season pass the locals can afford. Revamp the show selection, they have too many live shows which cost a lot of money. I would convert one of the live show theaters into a 4D theater. The investment woudl pay itself off quickly with the deference in per show costs.

They need to rework the rides selection. Add more kiddie and family rides. They could expand the kiddie land they have with 5-10 more rides for a little over 1 million. another 5-15 million can get you a far selection of Family and a couple thrill rides. The park has enough coasters. They should look into adding a wood coaster within a few years. Needless to say they also need to make sure the attractions they have work right.

**Leo C** · #23 02-13-2009, 09:11 PM

Could they scoop up some Cypress Gardens kids rides if they're still around?

Someone pointed out on the Hard Rock Cafe main page, with the Memorabilia top tab it will link in the Memorabilia page to the Park still.

James · #24 02-13-2009, 10:49 PM

Picking up a few CG rides might not be a bad move.. It could give them a few much needed kiddie rides..

And the Tilt,Fury, and ARM Tower could all be used too.

Michael C · #25 02-13-2009, 11:38 PM

They woudl be able to look into rides from any closed park. Used rides might be a great way to go. Could allow them to expand faster on the first year.

markham2020 · #26 02-17-2009, 09:30 PM

Sounds like Hard Rock Park has been sold to FPI MB Entertainment for 25 million!

**Leo C** · #27 02-17-2009, 10:03 PM

Sold! http://www.myrtlebeachonline.com/679/story/787109.html Judge gives approval. FPI MB Entertainment, $25 million.

Michael C · #28 02-17-2009, 11:58 PM

Ya I saw that news. I guess now the conversation now is what should they do? What rides Should that get that would help them get better and survive.

markham2020 · #29 02-18-2009, 12:31 AM

So, I heard that they want to open it Memorial Day weekend and that they also want to add a few new attractions sometime in the near future.

Michael C · #30 02-18-2009, 10:30 AM

It says that in teh news report. actually all the bidders seemed to want to open by Memorial Day. Which is consistent with other summer attractions.

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