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Fair board to consider new Kentucky Kingdom operator!

Guest rcfreak339

By Guest rcfreak339,
in Other Amusement Parks & Industry News

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Guest rcfreak339

Guest rcfreak339

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http://www.courier-journal.com/article/20100525/NEWS01/5250366/1008/Fair+board+to+consider+new+amusement+park+operator

The Kentucky State Fair Board Thursday will consider selection of a new operator for the closed Kentucky Kingdom amusement park at the Kentucky Exposition Center.

Fair Board president Harold Workman said he will recommend a new operator to the fair board at its monthly meeting. But he ruled out any chance of getting the park reopened this year.

The Six Flags chain, which is in bankruptcy proceedings, shut down the park in early February, after asking the fair board that it be allowed to operate the park rent-free through the term of its lease than ran until 2019.

Workman said Tuesday that six potential park operators inquired about reopening Kentucky Kingdom. He said representatives of three of the companies visited the park and that two of the three recently submitted proposals for reopening the park. He said he is recommending one of them to the fair board.

He declined to name the recommended operator, but he said he wouldn't recommend a company unless it was well experienced in the amusement-park business.

Once the board approves the potential operator, Workman said he will try to negotiate a lease with the company. That negotiation process will probably take at least 60 days, he said.

The bankruptcy court must still make a decision on what will happen to rides on 15 acres of the park still owned by Six Flags. The fair board claims ownership of the rides on 45 acres it had been leasing to Six Flags.

Workman said Tuesday that it would be difficult, but perhaps not impossible, to reopen only the 45-acre portion of the park that the fair board owns. He said he believes, however, that Six Flags would be a willing sell its 15 acres, if a deal could be struck with either the fair board or a new operator. A few rides span both the Six Flags and fair board property.

Workman said any company that wants to take over the park probably will invest a substantial sum in upgrading the offerings.

The lease called for Six Flags to pay $1.185 million in rent this year to the fair board. In addition, the fair board was in line to receive about $450,000 from parking fees paid by amusement park visitors. Six Flags got none of the parking revenue.

Louisville city officials and officials of the Louisville Convention & Visitors Bureau say they desperately want the park reopened. In addition to being a boost for tourism, the park provided about 1,000 summer jobs.

Reporter Sheldon S. Shafer can be reached at (502) 582-7089.

Needless to say, I am very excited and happy. Kentucky deserves an amusment park and a company who cares. I really love the quote that they will invest in to the park something Six Flags really lacked. Excited!

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Shaggy KIC Double Platinum Member

Shaggy

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Posturing.

He's full of $&*#

Think about it... what reputable operator would even *think * of negotiating a lease on a property who's embroiled in the midst of what will be a lengthy lawsuit that could very well result in the removal of all physical assets by their (My opinion) rightful owner (SF)???

I'm no lawyer, that's for sure... but I guess I think in laymans terms. I wouldn't sign a lease on a "fully furnished" apartment if I knew the landlord was suing the current tenant that bought the furniture from the previous tenant.

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Guest rcfreak339

Guest rcfreak339

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If I'm reading this correctly, they are saying that 2 companies are wanting to buy the park but the board will decide who indeed gets to buy. Correct?

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The Interpreter KIC Immortal

The Interpreter

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No. No sale is intended...from the article. At most, a lease.

And HE says there are two proposals, one of which he is recommending. I'd not take that to the bank. As I said earlier, this gentleman is largely the reason the Fair Board finds itself in the mess it is in. Six Flags would still be there today had the Board not been completely unreasonable in its demands....It never thought Six Flags would walk away...but it did.

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sccard01 KIC Enthusiast

sccard01

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Ed Hart did everything, but add greezed lightin, and the newer water rides. The park basically been standing and nothing has been happening ever since he left! it just rides leaving every year since six flags took over!

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Beast1979 KIC Legend

Beast1979

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I would love to see Ed Heart running the park. From what I've seen (Mostly thanks to YouTube) he ran the park spectacularly. The entire park looked upbeat, clean and fun. The level of thrills was easily comparable to that of any other major park at the time, what with him adding Thunder Run, Chang, Twisted Twins, T2, and probably more planned. Not to mention that I think a private owner like Heart would do much better than a big chain like Six Flags.

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Shaggy KIC Double Platinum Member

Shaggy

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Folks here sure are giving Mr Hart a lot of credit.

Fact is, Hart and Workman are old buddies... cut from the same jib...

Hart built KK on "time" and sold it to Premier complete with a huge amount of debt.

I am sure I sound like a spoil sport... but trust me, Hart is simply Workman's bailout. Workman named him so that he can save face with the State. I guarantee you there were no other "interested operators."

A great big key to all of this "good news" is SF's stake. They still own land partials on which some of the rides exist. It just depends on what the personal feelings are among the leaders now that Shapiro is gone.

Shaggy

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Mini_Cooper KIC Tourist

Mini_Cooper

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I do know for a fact that Ed has been keeping a huge eye on the park ever since SF took it over and he has said that he was not pleased with it. If Mr. Ed does want to take over the park again, it would not surprise me first off and second off it doesn't surprise me that the Fair Board is moving so swiftly about the park. Although I highly doubt this possibility, it would not surprise me if Cedar Fair took a glance at the park. Again, I highly doubt it cause they have too many problems of their own. *coughs* ever increasing debt+interest*coughs*

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  • 5 years later...
The Interpreter KIC Immortal

The Interpreter

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Folks here sure are giving Mr Hart a lot of credit.

Fact is, Hart and Workman are old buddies... cut from the same jib...

Hart built KK on "time" and sold it to Premier complete with a huge amount of debt.

I am sure I sound like a spoil sport... but trust me, Hart is simply Workman's bailout. Workman named him so that he can save face with the State. I guarantee you there were no other "interested operators."

A great big key to all of this "good news" is SF's stake. They still own land partials on which some of the rides exist. It just depends on what the personal feelings are among the leaders now that Shapiro is gone.

Shaggy

Some things merit repeating...

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