Former Hard Rock Park CEO wants cut of revenue from new park

Posted Thursday, March 26, 2009 2:21 PM | Contributed by T Van

The former CEO of Hard Rock Park is asking the park's new owners, who purchased the property out of bankruptcy last month, for an annual $500,000 licensing fee and royalties, according to documents filed in federal bankruptcy court in Delaware. Steven Goodwin, the former CEO, said in an e-mail to the park's new owners, FPI MB Entertainment, that the park is still the intellectual property of a corporation he formed. He is asking for 1.5 percent of the park's revenues above $50 million, according to court documents.

Read more from The Sun News.

Related parks

Friday, March 27, 2009 11:19 AM

http://wmbf.images.worldnow.com/images/incoming/news/pdf/hrp3-26.pdf

Goodwinn is claiming building design, ride ideas, as well as names. He even claims the park layout. Where this case seems like it should stop and end is the fact Goodwinn signed over the intellectual property to his own company without approval from the board. Also it looks like he was being paid $10,000/mo. to design the park. But even if the transfer of property holds up they made need to change the name of 10 attractions.

On one final note, according to what FPI filed in the court document Goodwinn is trying to claim a patent on a water coaster, which I do believe exsisted way before HRP was a thought.

+0
Friday, March 27, 2009 1:00 PM
janfrederick's avatar

I know that $10,000/mo has more than one RCT player here drooling. ;)


"I go out at 3 o' clock for a quart of milk and come home to my son treating his body like an amusement park!" - Estelle Costanza
+0

You must be logged in to post

POP Forums - ©2021, POP World Media, LLC
Loading...