Gilroy gardens has asked city to buy park.

crazy horse's avatar
According to this news story......

http://www.gilroydispatch.com/news/contentview.asp?c=209332

The park has asked the city if they are interested in buying the park.


what you've just said is one of the most insanely idiotic things I have ever heard.
Everyone in this room is now dumber for having listened to it.
I award you no points, and may God have mercy on your soul.

bobthecoasterguy's avatar
If it benefits both the park and the city, then why not? Also, would CF retain a managing partner or whatever they are if the city acquired the park?

--Erich

crazy horse's avatar
That's the big question. Is cedar fair under contract, and if they are under contract, will it be nullified(sp)?

what you've just said is one of the most insanely idiotic things I have ever heard.
Everyone in this room is now dumber for having listened to it.
I award you no points, and may God have mercy on your soul.

rollergator's avatar
I would imagine that the City can keep the management contract OR opt out, at their discretion...

Prob. makes more sense to keep CF around for at least a year...IMO.

This could get REALLY ugly or really interesting.

A few things could happen here:

1. The city could become a partner wiith CP on the park, maybe the city buys a 30% share.

2. The city buys GG outright and CP has no more libabily with the property

3. The city buys the park, but contracts CP for all maintaince and upkeep.

4. The city backs out and let's CP keep the paark.


Coaster Junkie from NH
I drive in & out of Boston, so I ride coasters to relax!

bobthecoasterguy's avatar
A question I have since there has been multiple discussions about Gilroy Gardens as of late, is who actually owns the park? I know CF is just under a managing contract and doesn't own the physical park, so who does? Is it some sort of board of directors, the bank, or what? Since they're trying to sell it to the city I get the feeling it's not public/city land. Just confused, is all.

--Erich

Yeah, I thought the city already owned the park and Paramount/Now CF had a agreement to operate it???

Go figure.

Essentially the park is owned by a trust that Micheal Bonfante set up. This has been covered in past threads.
So if the city declines, would CF be able/offered to buy the park outright? Or, for that matter, could the city buy the park, and then swing it a year later to CF for a little revenue?

"Life's What You Make It, So Let's Make It Rock!"
I would think that Herschend Entertainment Company would be a better owner for the park then Cedar Fair.
crazy horse's avatar
Some more info on the park sale.

http://www.gilroydispatch.com/news/contentview.asp?c=209428


what you've just said is one of the most insanely idiotic things I have ever heard.
Everyone in this room is now dumber for having listened to it.
I award you no points, and may God have mercy on your soul.

No argument, swoosh, except Cedar Fair is a little closer to home given that they have the management contract.

Unless such a sale would void such a contract, it strikes me odd that Herschend would even think about touching it. That would make for an awkward makeup -- owned by one chain, and managed by another. :)


"Life's What You Make It, So Let's Make It Rock!"

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