The Kentucky State Fair Board took a major step towards reopening Kentucky Kingdom by settling a property dispute with the park’s former operator Six Flags. At its monthly regular meeting Thursday the State Fair Board approved a master settlement with the new management of Six Flags. The agreement could pave the way towards signing a new operator for the popular summer destination park in Louisville. In the agreement Six Flags would turn over 20 of the 60 acres of Kentucky Kingdom that it owns and all but just one ride to the State Fair Board. The board would also get all furniture, fixtures, equipment related to the park as well as the intellectual rights which include names to the park rides.
Six Flags in exchange would receive $2.35 million, be forgiven of a tax bill of nearly $2.5 to the commonwealth of Kentucky and $2.8 million due in back rent to the State Fair board. The company will also be allowed to remove the Road Runner Express rollercoaster to install at another Six Flags venue. Six Flags had filed for bankruptcy in June 2009, coming out of the process in May of this year with new ownership structuring. In February Six Flags walked away from its lease of the Kentucky Kingdom park with the Kentucky State Fair Board, resulting in the park not opening for business this season.
The fair board is continuing its negotiations with an investment group led by Ed Hart, former owner and operator of the Kentucky Kingdom park from 1990-1997, towards reopening the park for a 2011 season.
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Tags: Ed Hart, Kentucky Kingdom, Kentucky State Fair Board, Louisville, six flags
This is excellent news. Kentucky Kingdom back, and without the ruinous flags!
Good Riddance T2. It will be interesting if Twisted Twins could return at all.
It looks like Hart would reopen only the waterpark side of the park not the original entrance across the bridge. The shuttered areas under SF wouldn't be considered yet. Thunder Run and T2 would more likely be back, not Greezed Lightning for now. I think he needs more financing for that. There's more money in water rides and that's not how I roll.
Good to see this hurtle overcome. Now they just need to move forward.