According to this SEC filing by Dan Snyder, Cedar Fair may indeed be considering buying the place. Never would have expected CF to buy Geauga Lake, so stranger things have happened.
Hey I am all for saving a park. And rides. Some just can't be replaced like they used to.
CF folks would have to get a good look at the (reportedly aging) facilities, the rides (reportedly maintenance nightmares), the location (reportedly a parking horror) and then the price.
Meanwhile, remember the bearer of this news. SF management? CF management? Or a loose cannon who apparently didn't rouse enough attention last week?
I'm not saying it can't or won't happen...but I will caution you to look at the big picture.
I know that many times over, there have been businessess that have threatened to move, relocate, etc. (sports teams come to mind) if the county, city, etc. doesn't do as they would like. Sometime they move, and sometimes they finally come to an agreement.
If you go to some of the local's Astroworld websites you will see that they knew it was a distinct possibility that this was going to occur and tried to rally the troops to "Save Astroworld". Now that something has been announced - I wonder if that cry has gotten louder and if now the local government has begun to notice?
Since the apparent reason for closing the park is the parking issue, why would we expect CF to be able to make a deal with the other parties? Why would we expect CF to even bother trying?
If CF were to come in and make a successful go of it, that would make Six Flags AND Snyder look like total asses. I don't think either of them would want to set up that possibility. I also don't think CF would want to take over a park that has little or no potential to survive.
Of course, CF could buy it then turn around and sell the land to developers for a huge profit and relocate the rides to its other parks. Anyone at SF for seconds on Humble Pie?
I agree with most of the things you say except I don't see how a CF turnaround would make Snyder look bad.
People have asked that question during the calls at least twice a year. They get the same stock answer.
Daniel Snyder doesn't gain any legitimacy by repeating a CF stock answer to a common question.
Snyder is trying to make the current Six Flags board look like a bunch of idiots that are out to make themselves look good, even at the expense of the stockholders. It would be in Snyder's best interest to see if the board had refused to look at other alternatives, such as selling Astroworld to another amusement operator.
Considering how much of Six Flags he owns and how much more he intends to purchase, I don't doubt for one minute that if Snyder wanted Kinzel's ear, he'd get Kinzel's ear.
*** Edited 9/21/2005 6:57:38 PM UTC by Rob Ascough***
Interest is one thing. A definitive 'yea' or 'nay' depends on particulars Snyder isn't in a position to provide.
So could you be 100% correct about who talked to who? Absolutely! Does it actually mean anything of significance at this point if it happened? Nope.
Even if Cedar Fair is interested, there are a lot of factors that could put them off on the acquisition - much like the disagreements on contract terms between Visionland management years back.
I'm pretty sure once Cedar Fair fully explores this option, they may find that it's not that of a move for them to make. Cedar Fair is going to have a tough problem on their hands - a hand to hand combat with Reliant Complex over parking spots like Six Flags did before announcing the sale of AstroWorld.
In addition, Geauga Lake has JUST begun to slightly pull itself out of a deep hole and turn a small profit, and I don't think snapping up another park is what's in their best interest right now. I know I know. Who am I to say what's in their best interest? Although on a smaller scale of Six Flags making the mistake of buying up parks in a short period of years, if Cedar Fair acquires AstroWorld, it would make it the Fourth AMUSEMENT PARK (NOT INCLUDING THE HUGE SLEW OF WATER PARKS PICKED UP ALONG THE WAY) they acquired in less than 9 years.
This would be awesome if they did. They should buy SFA. I'd love for them to slowly take over SF parks that have gone down the tube.
That would be my Dream!
I really don't see it happening (CF acquiring it), so IMO it's pretty much a moot point... especially with another category 4 approaching. *** Edited 9/21/2005 9:53:36 PM UTC by RatherGoodBear***
Conversely, what if Cedar Fair wanted to drastically change the park? Maybe they want to eliminate the dry rides, thus saving space, and concentrating on a water park and even something like a Castaway Bay.
It wouldn't surprise me at all if Kinzel was interested in acquiring another year-round facility.
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