Cedar Fair pulls out of Visionland deal

Posted Tuesday, March 28, 2000 8:04 AM | Contributed by Jeff

Alabama Live reports that Cedar Fair, the parent company of Cedar Point, Knotts Berry Farm and others, has dissolved the deal to manage Visionland for the 2000 season. The article goes on to say that another company is close to signing.

Read the complete story on Alabama Live.

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Tuesday, March 28, 2000 4:40 PM
That park must be in serious $$ problems or something for CF to have pulled out. Any reasons why??

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Tuesday, March 28, 2000 4:47 PM
That's what I'd like to know. They must have been in bad shape, because Cedar Fair even mentioned the deal in their annual report.

The wacky thing is that Cedar Fair stock flirted with $20 all day for the first time in awhile!

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Jeff
Webmaster/Admin - CoasterBuzz.com
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Tuesday, March 28, 2000 10:11 PM
ACTUAL ARTICAL from todays paper:

***Article removed... that's why there's a link to it above. It's copyright infringement to cut and paste it here. -J*** *** This post was edited by Jeff on 3/29/2000. ***
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Tuesday, March 28, 2000 10:24 PM
I think it could have been something to do with the tax problem. As you can see from the article if they would have gave them the taxes..and not putting it off like they are they would have had the 10 million to play with from lenders.
I have no idea who the this new company is. It's almost like CF acted liked that they didn't want to put the money into the park. The ticket sells are way up this yr. So I'm not really sure whats up with this. I don't feel too good about CF like I use to, when they just bail out and don't even say why. Langford never lies about anything, thats the kind of rep he's got here. So I know if they didn't give a reason they didn't. I think money goin to the schools is great...but hell they just raised the taxes and now they want to take more. I don't think they should take any of the money cuz if they do..where would kids go? It's really change that town around..and I think people are just getting to greedy now, they should donate money to the park..I for one buy a season pass even if I don't go more then 2 times a yr. I support my hometown park! I think everyone should feel that way about there parks. I love it that it's not so commercialized and I hope they sortof stay away from that unlike SixFlags which in my opinion is way to commericalized. But my opinion only.
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Tuesday, March 28, 2000 10:28 PM
I don't think the 20 a share has nuthing to do with it since it's been goin up around 20 cents a day for the past 2 weeks..and sometimes to just dropping a bit.
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Wednesday, March 29, 2000 6:51 AM
Stock prices can be affected when the CEO takes a dump. FUN is trending upwards, but any announcement like this is likely to have some effect. To say it has "nuthing" to do with it would be incorrect.

Cedar Fair doesn't play small town political games. If the community (or local authority in this case) they wish to operate in isn't going to work with them, they're out of there. Too bad for the local economy.

That said, Cedar Fair is a mark of stability, and things had to be considerably worse than they thought for them to pull out. I suspect they were baited in to the deal by misrepresentation of the real situation.

As far as donating money, that's insane. It's a business, not United Way.

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Jeff
Webmaster/Admin - CoasterBuzz.com
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Sunday, March 25, 2001 11:31 AM
visionland is over $8,000,000 in debt and CF is looking into a 1,000 acre park that has been proposed in Mississippi *** This post was edited by rampagelover on 3/25/2001. ***
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