New Orleans wants to revive buyout deal with Six Flags

Posted Friday, April 24, 2009 11:17 AM | Contributed by Jeff

Six Flags CEO Mark Shapiro told the Associated Press on Thursday that New Orleans suddenly wants his company to put a deal back on the table in spite of its well-publicized financial problems. In 2006, Six Flags offered to pay the city $10 million, donate 86 acres of land it owns in eastern New Orleans and share with the city any future insurance proceeds it collected on the park in excess of $75 million if the mayor's office would terminate its long-term lease. Six Flags valued the deal at about $14 million.

Read more from The Times-Picayune.

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Friday, April 24, 2009 1:04 PM

What horrible timing for the city New Orleans to bring all this up. Everyone knows Six Flags is hurting more than ever. They should have taken care of this a long time ago

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Friday, April 24, 2009 3:00 PM

The reason it is coming up is bankruptcy will void this contract and the city will get nothing.

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Saturday, April 25, 2009 2:14 PM

Which is precisely why Six Flags has no incentive to make this deal.

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