Jazzland sale open to new customers

Posted Tuesday, March 19, 2002 4:59 AM | Contributed by Shawn

The group that sought to buy Jazzland Theme Park has been unable to raise the money to follow through on its plan, so Jazzland has begun discussions with other companies about managing the park and financing its operations this season. The previous buyer could not secure financing.

Read more from the Times-Picayune.

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Tuesday, March 19, 2002 5:25 AM
Look at the management and termination 'fees' Entertainment Associates wrote in to this deal (Paragraph 20). No wonder these people called a press conference to declare themselves the saviors of Jazzland first...perhaps they hoped public support would help force this raw deal down the bank's throat.

In other related news, I just signed a $20 million contract with the New York Knicks and mailed them a copy yesterday. If only I could get them to sign too...

-'Playa
(who's a bit more kind than Tom Winingder) *** This post was edited by CoastaPlaya on 3/19/2002. ***

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Tuesday, March 19, 2002 7:30 AM
Will Cedar Fair be the savior of either of these two cities (Visionland or Jazzland)? Only time will tell.
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Tuesday, March 19, 2002 7:51 AM
Ah, I would say it is highly unlikely CF will buy Visionland. They were going to buy visionland back around oh 2 years ago. They pulled out of the deal, knowing something wasn't right. As we are seeing now.

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Gemini 100

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Tuesday, March 19, 2002 9:45 AM

They weren't going to buy it, only enter into a management agreement.

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Jeff - Webmaster/Admin - CoasterBuzz.com, Sillynonsense.com
"As far as I can tell it doesn't matter who you are. If you can believe, there's something worth fighting for..." - Garbage, "Parade"

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Tuesday, March 19, 2002 10:51 AM
If memory serves, wasnt' the reason for the pull out of the management agreement something to do with an outlet mall being built in the area?
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Tuesday, March 19, 2002 2:19 PM

I would say that is a huge NO on CF:LP buying Jazzland. Something just isn't right about this park.

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S W :) :) S H
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GO HUSKERS!

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Tuesday, March 19, 2002 5:20 PM
I hope that someone does come up with a way to save the park. I would hate to see it go the way of Pontchartrain Beach.
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Tuesday, March 19, 2002 8:04 PM

They weren't going to buy it, only enter into a management agreement


But if memory serves me correctly, it was a management contract with a purchase option, no?


I would say that is a huge NO on CF:LP buying Jazzland. Something just isn't right about this park.


You mean besides the whole gaggle of interested parties already involved (The city and their HUD loan, the landowner, the small unpaid creditors, the larger creditors and my great uncle Tony) many of whom plan on making a killing, while others just wanna be paid?

What else could there be? Oh, yeah...it costs a lot more to build on the land because it's swampy. There ya go.

-'Playa

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Tuesday, March 19, 2002 8:06 PM

It looks like my original post when this deal was announced was all too true. I agree with Tom Winingder's attorney's statements in the article calling this a 'tainted insider transaction' with 'fantasy financing'. I'm still not sure why anyone thought this deal would fly.

Another quote from the article

"First, Mr. Drew guided the debtor (Jazzland) into its current financial straits. Now, he claims to be the man who can fix the problems. . . . Rather than spending his time doing what he could to salvage the debtor for the benefit of its creditors, he has put together a vehicle as an initial step of the path to selling the debtor to the detriment of its unsecured creditors."

Now, can anyone out there run this park profitably? It's alarming how the attendance dropped from the 1st season to the 2nd. Does this indicate the park was a disappointment to visitors? Was it because of the park's rides and attractions (or lack thereof) or because of poor management or perhaps poor marketing and promotion? I don't see how location can explain the 2nd year showing.

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Wednesday, March 20, 2002 9:32 AM
All I have to say is that I WOULD CRY if Mega Zeph was SBNO in 2002. Not that I have the chance to go there this season, but it is SUCH a good ride!

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Nothing... NOTHING... can prepare you for... the Fourth Dimension!

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Sunday, March 24, 2002 2:12 AM
Will this be the first SBNO CCI?Let's hope not!

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I can fix anything.....where is the duct tape?

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