Judge approves sale of Hard Rock Park for $25 million
Posted February 17, 2009, 9:23P |
Contributed by T Van
A judge has approved the sale of Hard Rock Park to FPI MB Entertainment for $25 million. The sale is scheduled to close no later than 5 p.m. Thursday, but could happen as early as Wednesday. Delaware bankruptcy court Judge Kevin Carey called the price adequate and the process rigorous. "Anyone who wanted the opportunity to bid had it," he said. FPI wants to keep the Hard Rock brand but has agreed to destroy any Hard Rock-branded merchandise before the park opens if there is no agreement on extending the license agreement, lawyers for the companies said in court.
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