Posted Tuesday, October 9, 2007 11:33 PM | Contributed by Jeff
With the owner of the Great America theme park continuing to raise concerns about plans for a San Francisco 49ers stadium next door, team officials Tuesday said they would consider buying the Santa Clara attraction to move the deal ahead. A spokesman for the park's owner, Cedar Fair, said late Tuesday that the company would release a statement today explaining its opposition to the $854 million stadium proposal. Because of the terms of its lease with the city, if Cedar Fair refuses to sign off on a stadium, the proposal ultimately could be scuttled.
Read Cedar Fair's response in their press release.
"You can still enjoy Great America, but in a whole new way... Hours of tailgating fun in the 49er's new parking lot! (PS.: Don't forget to visit our other former amusement park in Aurora OH)"
I don't get this at all. Regardless of whether a football stadium is used for other things, they're generally a waste of money. $900 million buys a stadium that serves its main purpose between 8 and 10 times a year, requires $250 million in upgrades after 12 years and gets slated for replacement after 25. There are no other areas in the Bay Area for the 49ers? An amusement park is going to be lost for this? And, more curiously, taxpayers are going to put up with this? Is this really the only option?
If anything, I think this proves just how far Cedar Fair is in over their head. Supposedly this park makes a decent amount of money. If they're willing to give up long-term profit for a short-term gain, that says they have too much on their plate and would like to get rid of some of it.
They sure could do well for themselves if they play this right.
If anything, I think this proves just how far Cedar Fair is in over their head.
I say, if anything it proves how low amusement parks are people's lists of things that are important in general.
If you don't think football will beat roller coasters every time - you're fooling yourself.
And more on the amusement park topic:
I cry conspiracy. They knew they were going to sell off the park when they bought it. In fact, I think that's their whole plan with the park purchases they made - kill 'em off one-by-one. With no competition CF is the only major game around. Look out SF, you're next! ;)
Anyway, back to sports... no surprise at all that football beats an amusement park, but why can't there be both? Half the football games- if not more- will take place after the park closes for the season. How many operating days is this going to affect? Four? Five?
I don't smell a conspiracy, just a company that bit off more than they can chew. Cedar Fair is obviously looking to unload a few parks- perhaps because they can't handle what they have- and as soon as they saw the potential for a quick gain, they put up a "For Sale" sign.
Really though, Cedar Fair has already taken into account what properties they could easily get rid of, wether it be competition or profit off the sale of real estate. I am sure that residents of Santa Clara would be greatly pleased to eliminate the park, as the noise from Great America must be an issue. (Not that an NFL game would not be, but no one complains about that.)
Not sure why that is, nor do I understand why someone would spend so much time on a site like this when they seem so indifferent to the idea of amusement parks.
I'm just biding time until I die. ;)
There is a similar (note the word similar - not the same) situation going on with one of the most profitable and stable company's in the world. Procter and Gamble is considering selling off Pringles, Folgers and Duracell. Three GIANTs that generate significant revenue. P&G is not in dire straits. This is not an attempt to pay off debt generated in an expansion. It is just a business decision.
It appears that CF wants to keep KGA open. However, for the right price they will consider selling. Why not? For the right price they could see the profits now, and reduce their cap expenses over the next few years by re-purposing the KGA rides elsewhere in the chain. Sounds like a win/win if the price is right.
As for the notion of closing parks, I agree to an extent that few parks is a bad thing. However, KGA is not a storied traditional park. It was part of the Marriott chain built in response to the success of KI. Don't bother with the GA and KI do not compete, I know that. The idea was that KI was successful, so why not follow the lead and build more. SF did the same. The closing of traditional parks is unfortunate and sad. The closing of a park like KGA or dare I say even KI, while unfortunate and sad, is not the same. Thirty or so years of history, versus 100 or more years.
Edited to fix spelling*** This post was edited by CoasterDad64 10/10/2007 4:21:36 PM ***
Cedar Fair would not get the rides to redistribute as they are with GL, since they do not own the land to sell, they'd be selling the park "as is" and walking away from it.
But. Maybe they know that Santa Clara wants GA to continue operating and that SC will never agree to a buyout that shuts down the park. So by posturing that, "hey we're willing to step aside if the city wants us to, but the city decided the park stays as is" CF is not the heavy if the stadium isn't built in Santa Clara.
CF holds the aces. Their worst case scenario is they own/lease a profitable park. And by saying no to the 49ers they maintain the Status Quo.
If someone presents them with a better scenario (and GA with less parking is not a better scenario) they will say yes. But they have no need (or ability, really) to force a better scenario into existence.
Lost in this is one fact: the city seems pretty committed to keeping GA open and operating as an amusement no matter who owns/leases the land.
We can't be so naive this time around to say that it's not possible, even if it isn't something we don't want to face, because it clearly is. It's almost as if GA has the issues of Astroworld and GL blended together(parking problems/prime real estate and CF possibly in over their heads)
Don't be surprised if the city buys out CF and forces the 49ers to keep GA open as part of the stadium deal.
Reread the post and maybe you will figure it out, or don't reread it.
Kings Island was successful, so the powers that be at Marriott wanted to emulate the model. Think Moe's and Chipotle, Marble Slab and Cold Stone, BW3s and Beef O'Brady's. Possible competitors or simply users of the same model in either case, Marriott wanted some of the action.
Jazma said: Cedar Fair would not get the rides to redistribute as they are with GL, since they do not own the land to sell, they'd be selling the park "as is" and walking away from it.
It all depends upon the sales contract. To your point, the 49er's probably have no need or desire for the rides - CF would most likely keep the ones they wanted, sell or leave behind the rest.
Anybody know what the average attendance was/is at Great America?
*** This post was edited by Jazma 10/10/2007 10:44:44 PM ***
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