After less than three months since announcing their partnership with Southern Star Amusements, Nickelodeon has ended their licensing agreement with the Louisiana based company.  Southern Star was hoping to redevelop Six Flags New Orleans after the devastating affects of Hurricane Katrina left the park all but abandoned.

In a statement, Nickelodeon has stated that they have ended their agreement due to “Southern Star’s failure to meet important contractual requirements and deadlines.”

President and founder of Southern Star Amusements Danny Rogers claimed that Nickelodeon imposed unrealistic time lines for the company to raise the money needed to fund the project given the poor economic climate.  He also believes that the bankruptcy court hearings with the park’s previous operators has been a complication in convincing potential investors to jump on board.  Rogers stated “Investors are not going to invest until they see a clear ownership of land.  These projects are hard to do, I don’t care who you are.  In today’s economy, it’s difficult.”

Southern Star had planned to spend in excess of $150 million to redevelop the park by renovating existing rides and adding several new rides and water attractions.  In August, Nickelodeon had agreed to lend their name, marketing strength, and wealth of memorable characters through a licensing agreement to Southern Star.  Nickelodeon had not planned to provide any financial commitments to the park.

Even without Nickelodeon, Southern Star plans to move forward with their plans for the park.  “Nickelodeon, it would have been nice to have them aboard, but at the same time the project stands on its own merits,” Rogers said.  “If they want to leave, God bless them.  They never put a penny into it in the first place.  We’re pretty much the last shot.  If we don’t do it, no one will.”

However, Nickelodeon’s statement suggests that they are still open to lending their name to another company if one expresses interest in developing the project.  The company stated that they “still believes that New Orleans is a viable location for a licensed Nickelodeon-themed destination, and we remain open to exploring options for moving this project forward.”

Tags: Nickelodeon, Six Flags New Orleans, Southern Star Amusement