Visionland to be managed by Cedar Fair
Posted
As seen on http://www.abc3340.com...
An Ohio-based company has agreed to take over the operations of financially troubled VisionLand. The five-year deal includes an option to buy the amusement park. West Jefferson Amusement Park Authority chairman Larry Langford says the deal with Cedar Fair, LP was reached yesterday. Cedar Fair owns and operates amusement parks, water parks, resort hotels, restaurants, a marina and an RV campground. The management contract gets Cedar Fair an amusement industry outlet in the Southeast while earning revenue. VisionLand's problems have included a four million dollar deficit for the 1999 season and the continuing lack of a line of credit. The park opened profitably in 1998 but sagged last year.
[Ed. Note: There is more information, as reported by The Birmingham News, available here: http://www.al.com/news/birmingham/Feb2000/11-e382620b.html]
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I have to imagine that CP passes will be good at VL.
It just keeps getting better and better. My significant other (I just think I'm too old to have a "girlfriend") is originally from B'ham, and we were planning to go down there this summer anyway. Now knowing that I get into another park for free? How cool is that?
It just keeps getting better and better. My significant other (I just think I'm too old to have a "girlfriend") is originally from B'ham, and we were planning to go down there this summer anyway. Now knowing that I get into another park for free? How cool is that?
Yes. In fact, this is the first year I'll have an actual CP pass - two years ago we bought ours at Knotts, and last year at Dorney. Passes purchased at any Cedar Fair park are good at all. I'm curious about VL, however, because CF did not actually purchase the park.
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Age and treachery will always overcome youth and skill.
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Age and treachery will always overcome youth and skill.
Well if you guys do come down come down and ride Rampage at like nite thats when it's at it's best and it tends to get better and better as the night goes on. Also CCI still has a another woodie for this park that still on the drawing boards I believe my friend told me he over heard last yr it was goin to be a duel woodie coaster or one HUGE woodie. So we could see a new coaster next yr. All I know there talkin about the VisionQuest Aquarium coming 02' at 90million. As an addition to the park. I think I've heard they may transport an older steel looper coaster to this park soon. That or a S&S shot ride. I should know somthing about what might be coming within a month if anything..they may just beautify the park for now..but I think they will have something new..they always do.
I was just told by my friend CF will have to put atleast one major attraction every yr and with that notion. I bet we got something good coming this yr. If I had control I would do this. First build a nice walkin sit down resturant,Put the LAZER coaster here,add a few more exhibits to Dino Domain,beautify the whole park it needs more shading,replace one or two of the flat rides with something from HUSS,put new slides or maybe a wave pool for the water park section, an S&S shot ride or maybe something like the exterminator ride, add maybe small version kid sized ver. of the S&S shot, add some Snoopy type stuff to it.
I was told there was around a 20 million buget for the park? Hope it's true. Cuz that means something sweet will come to the park.
I was told there was around a 20 million buget for the park? Hope it's true. Cuz that means something sweet will come to the park.
About the CP season pass working at Visonland. I would recommend calling before heading down. I have worked for Cedarfair for the last 6 years, and in that time there have been many parks added. Also the management of Camp Snoopy in the Mall of America in Bloomington, MN. I know that other Cedarfair employee and season passes don't work at Camp Snoopy, as well as Camp Snoopy employee passes only work at Valleyfair in Shakopee, MN and that is because it is only managed and not owned by Cedarfair/
Quote From B-ham news:
VisionLand has tied the knot on a five-year management deal with Cedar Fair LP that includes a $4 million loan to pay outstanding bills and get the park's 2000 season under way.
West Jefferson Amusement Park Authority, the board that governs VisionLand, will pay Cedar Fair $750,000 a year to manage the park, according to Authority chairman Larry Langford.
The first $2.5 million of the loan will be used to pay off building, ride and landscaping contractors, Langford said, plus some outstanding advertising bills. The remaining $1.5 million from the loan will be used for pre-opening expenses such as ride maintenance, salaries and advertising.
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The sale of season passes starts in March. Cash from those sales will go to pay any remaining bills. Langford said the park should be current on all of its bills sometime in April, well before the season begins Memorial Day weekend.
Cedar Fair, a Sandusky, Ohio, company which owns amusement parks throughout the Midwest and California, will have a team at the park today to start assessing immediate needs, according to Langford.
As soon as VisionLand starts making money, Cedar Fair will be paid 20 per cent of any gross revenues above $10 million, excluding the annual payments made by the Authority's 11 sponsoring municipalities, according to the contract. This payment to Cedar Fair will be in addition to the $750,000 yearly fee.
Any cash left after the gross revenue payments will be used to pay Cedar Fair back for the $4 million loan.
Payment of the long-term bond debt, which was used to build the park, will come first. This money will come from sales-tax revenues generated by the park. Any money left over from the sales-tax revenue will go toward park expansion such as additional rides.
The contract calls for Cedar Fair to help determine anything that is bought or built. "This will be professional advice on what rides draw the most people," Langford said.
The five-year management contract will automatically extend one additional year at the end of each contracted year unless notice is given by either the park Authority or Cedar Fair.
Cedar Fair will have an option to buy the park at any time during the contract period for a price equal to the outstanding principal owed plus any interest accrued on the park's bonds, as well as any other debt not owed to Cedar Fair.
VisionLand has tied the knot on a five-year management deal with Cedar Fair LP that includes a $4 million loan to pay outstanding bills and get the park's 2000 season under way.
West Jefferson Amusement Park Authority, the board that governs VisionLand, will pay Cedar Fair $750,000 a year to manage the park, according to Authority chairman Larry Langford.
The first $2.5 million of the loan will be used to pay off building, ride and landscaping contractors, Langford said, plus some outstanding advertising bills. The remaining $1.5 million from the loan will be used for pre-opening expenses such as ride maintenance, salaries and advertising.
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Business news || Politics news
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The sale of season passes starts in March. Cash from those sales will go to pay any remaining bills. Langford said the park should be current on all of its bills sometime in April, well before the season begins Memorial Day weekend.
Cedar Fair, a Sandusky, Ohio, company which owns amusement parks throughout the Midwest and California, will have a team at the park today to start assessing immediate needs, according to Langford.
As soon as VisionLand starts making money, Cedar Fair will be paid 20 per cent of any gross revenues above $10 million, excluding the annual payments made by the Authority's 11 sponsoring municipalities, according to the contract. This payment to Cedar Fair will be in addition to the $750,000 yearly fee.
Any cash left after the gross revenue payments will be used to pay Cedar Fair back for the $4 million loan.
Payment of the long-term bond debt, which was used to build the park, will come first. This money will come from sales-tax revenues generated by the park. Any money left over from the sales-tax revenue will go toward park expansion such as additional rides.
The contract calls for Cedar Fair to help determine anything that is bought or built. "This will be professional advice on what rides draw the most people," Langford said.
The five-year management contract will automatically extend one additional year at the end of each contracted year unless notice is given by either the park Authority or Cedar Fair.
Cedar Fair will have an option to buy the park at any time during the contract period for a price equal to the outstanding principal owed plus any interest accrued on the park's bonds, as well as any other debt not owed to Cedar Fair.
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