chadster Posted September 19, 2011 Share Posted September 19, 2011 ^^ Except they are contractually obligated to put the sale proceeds towards their debt and I doubt Cedar point would want any of that crap. Flight Deck might be the only salvageable coaster left. Now that being said, it does free up capital improvement money, not that CGA was budgeted for any... Link to comment Share on other sites More sharing options...
XYZ Posted September 19, 2011 Share Posted September 19, 2011 There goes our hopes for WindSeeker. Though, why would they do this, CGA finally has growing attendance and they're going to sell it. This is a pathetic move in my opinion and I hope this isn't CGA's doom. Link to comment Share on other sites More sharing options...
KDcoasterMAN Posted September 19, 2011 Share Posted September 19, 2011 (edited) Is there any mention that CF can remove any of the attractions such as Flight Deck? It sounded to me that they sold the park and all of its assets. The company they sold it to specializes in mixed entertainment venues..... So I would kiss the park goodbye.. I feel like we have been calling this for the past two years.... Or at least I have.... Posted this on kdfansite.com in August of 2009 in 2011, CF will make an anoucement that CGA will be closed down at the end of their operating season. EDIT: I was close enough, if this new company decides to run the park as it is or expand it I will be thoroughly surprised. Edited September 19, 2011 by KDcoasterMAN Link to comment Share on other sites More sharing options...
KickTheSky Posted September 19, 2011 Share Posted September 19, 2011 Wow! This is too bad, would be nice if JMA would make an announcement as to their plans. Sad to think that the Great America in the DC-area never saw the light of day and now the one in California is quite possibly going to be no more! Seems like the charm and beauty of the Marriott era left this park's version of Great America some years ago, but I wonder how exactly they would sell off some of the "original" pieces? Specifically, the observation tower interests me - do they literally just tear it down and sell it for scrap? Or could their sister park in Gurnee use some parts etc? I read in this thread, some time back, that this park still has the covered walkway structure by the former Sky Whirl footprint - maybe they can pack that up and ship it to Gurnee? LOL. This has to be great news for Discovery Kingdom, yes? Link to comment Share on other sites More sharing options...
XYZ Posted September 19, 2011 Share Posted September 19, 2011 Let's not worry about a Demon removal, we have to worry about all 55 rides closing down! Plus $70 million is nothing for the size of this park. Link to comment Share on other sites More sharing options...
Angry_Gumball Posted September 19, 2011 Share Posted September 19, 2011 What an interesting surprise to wake up to. It makes sense now though. No new rides, no added mazes for haunt, and discounted merch. I guess now we are in 'wait and see' mode to see of this ski resort company cares to invest in the park. We can now all probably stop speculating the windseeker... But what about that woodie? That was mentioned that it was not dead yet. But maybe it is now, who knows... Link to comment Share on other sites More sharing options...
SharkTums Posted September 19, 2011 Share Posted September 19, 2011 So can someone post some details on this JMA company? None of this should be surprising to any of us...it was just a matter of time. Link to comment Share on other sites More sharing options...
KickTheSky Posted September 19, 2011 Share Posted September 19, 2011 (edited) These companies can be scary sometimes (real estate "investment" companies, that is) -- here is their website http://www.jmaventuresllc.com/ Interested to see how quickly they come out with an announcement of their intentions! And I do have to agree with the notion that $70 million seems like a steal - I know California land has taken quite a hit, but with the location (especially with the looming NFL thing) it seems like that parcel of land ITSELF would be worth that - let along the improvements that sit upon it. Would love to know where the negotiations started out at....obviously they ended at $70mil. It almost seems like they had to give them a discount to account for the cost to deconstruct the property to a phase where they could do whatever they need to do to it for the Niners/Raiders to move in. Buy maybe I'm off! Edited September 19, 2011 by KickTheSky Link to comment Share on other sites More sharing options...
montezooma Posted September 19, 2011 Share Posted September 19, 2011 Dibs on the water slides! Link to comment Share on other sites More sharing options...
sjsharkattack10 Posted September 19, 2011 Share Posted September 19, 2011 What's gonna happen with haunt? I really enjoyed that time of year Link to comment Share on other sites More sharing options...
jazma Posted September 19, 2011 Share Posted September 19, 2011 They never owned the land. The city owns that. Basically, the sale price of $70 million is for the rides and structures, which is all CF ever owned. There also is the small detail of the city approving this, and a certain % of revenue/sales goes to the city, so I assume it would need to be operated as a park until the city agrees to something different. Link to comment Share on other sites More sharing options...
KDCOASTERFAN Posted September 19, 2011 Share Posted September 19, 2011 Too bad CF won't just pull a GL & start relocating assets prior to the sale as I know of a certain park back east that could use a good B&M invert,and perhaps a flat or two. Link to comment Share on other sites More sharing options...
greatamerica1990sfan Posted September 19, 2011 Share Posted September 19, 2011 (edited) Since you can see what kind of new company this is from their website I guess we should all say adios Great America. They wouldn't want to keep Great America going instead turn it into something like a housing development since it says their in real estate. I'm sure this was the last season. I wouldn't be surprised. I'd much rather go to SFDK anyways. Downhill Thunder would look great in my backyard! Edited September 19, 2011 by greatamerica1990sfan Link to comment Share on other sites More sharing options...
Thunderhead Posted September 19, 2011 Share Posted September 19, 2011 ^^ Now that makes more sense. 70mil seemed a bit low. Shame. ...Flight Deck KD 2013 Link to comment Share on other sites More sharing options...
KickTheSky Posted September 19, 2011 Share Posted September 19, 2011 Wow, so Marriott built the park on land they didn't own? That's incredible. Had no idea! Thanks for the info. Link to comment Share on other sites More sharing options...
Angry_Gumball Posted September 19, 2011 Share Posted September 19, 2011 I'm confident the park and its employees will continue to thrive under the ownership of JMA. Easy to miss this line of text... In the end, my personal thoughts is that CGA is now relieved from this 'coffin' that's been being 'assembled.' Since JMA seems to be in the loop of high-risk facilities (ski resorts) I could see the park working out for them as a new venture to take on. Poor Woodstock's Express...yet to have another name change! Link to comment Share on other sites More sharing options...
SharkTums Posted September 19, 2011 Share Posted September 19, 2011 Since SetgoGuy didn't actually answer my question at all and just copy and pasted the same stuff, I went and looked at the website for JMA myself. (Seriously, Setgo, just please never post in a thread I post in again, thanks!) So looking at the site there's a SMALL chance they MAY want to run an amusement park, but moreso I agree with the others who see them turning the area into more of an entertainment leisure type place to complement the future 49ers stuff next door. Link to comment Share on other sites More sharing options...
Wes Posted September 19, 2011 Share Posted September 19, 2011 "I'm confident the park and its employees will continue to thrive under the ownership of JMA." is basically "I'm confident my horrible children will continue to thrive under the care of my ex-wife". They're washing their hands and moving the F on. Link to comment Share on other sites More sharing options...
robman Posted September 19, 2011 Share Posted September 19, 2011 If what the local news says is correct they made it seem that the 49ers would have to re-submit all of the paperwork and what not all over again if they want to build the stadium in the parking lot; Im really not sure how true that might be. I also think that none of the rides are going anywhere, why do you think they took Invertigo out? It was the only coaster that Cedar Fair thought they could make a profit on at another park. Link to comment Share on other sites More sharing options...
gisco Posted September 19, 2011 Share Posted September 19, 2011 JMA is investing in potential. They got the park cheep and will keep it as an amusement park until something comes along that will make the area more valuable to be something else. That something to come along is the new stadium. If the stadium never is built, they haven't risked much and have an operating park to return their investment. Link to comment Share on other sites More sharing options...
RCFreak Posted September 19, 2011 Share Posted September 19, 2011 (edited) I'm not the least bit surprised by this as it was clearly inevitable that CGA was never really in the "master plan" for Cedar Fair's long term growth. And I'm curious if this will have effect on Gilroy Gardens, or if that's completely separate from CGA now? This is an interesting article that says the 49ers owners are part of the financers with JMA Ventures and a little bit more about the company. I wouldn't say bye bye Great America, but I might be saying hello to 49ers land! A San Francisco real estate firm and the owners of the 49ers are buying the Great America theme park for $70 million in a deal that will end the park's lawsuit against the city of Santa Clara. Santa Clara Mayor Jamie Matthews told this newspaper that the York family -- owners of the 49ers -- is investing in the purchase with JMA Ventures. He said he didn't know the amount of the York's investment. The team did not immediately have a comment about the York's partnership in the deal. . A news release from JMA said an "entity" connected with the 49ers has been working with the company and "is expected to partner" with JMA in the purchase. "The acquisition will position the park for future long-term growth and clears the way for the new stadium project to move forward, " JMA said in the release. Santa Clara owns the Great America theme park property and leases it for $5 million a year to Cedar Fair, which bought the park in 2006 and has had a contentious relationship with the city over parking and other issues related to the future stadium, which would be built next-door to the amusement park. The council must approve the purchase, but no date has been set for an action. Matthews also hinted the city may consider increasing the rent. Cedar Fair, based in Sandusky, Ohio, expects to use the cash proceeds from this sale to reduce its senior secured debt, according to a statement. JMA could begin operating the park in the final three months of the year. The company says it will retain all employees and continue their benefits. JMA says the sale will erase the need for a lawsuit against the city, which Cedar Fair had filed over a myriad of reasons, including the loss of parking. In a statement, JMA CEO Todd Chapman said: "JMA was never a part of the lawsuit, so I do not believe it is appropriate for us to comment on it. However, we do support the new stadium and will not maintain the litigation against the project." Cedar Fair also did not support the citywide measure to build the stadium. As far back as 2009, Cedar Fair was also looking for buyers; until the deal fell through, they were considering selling its amusement empire to Apollo Global Management for $2.5 billion. JMA may be best known for its properties including: Alpine Meadows, Homewood Mountain Ski Resort and West Shore Café and Inn in the Lake Tahoe area, Fairmont Heritage Place at Ghirardelli Square, and Waterbar and EPIC Roasthouse restaurants on San Francisco's revitalized Embarcadero waterfront. Matthews called the deal "amazing" and "great news" for the park and the city. For its part, Cedar Fair executives said in their own statement that the sale was done with mixed emotions. "Our decision to divest of our California's Great America park was not an easy one," said Dick Kinzel, Cedar Fair's chief executive officer. "This is a quality park that has terrific employees and serves a strong market.'' That said, Kinzell added, that as executives reviewed their "portfolio of parks," they determined that "divesting a smaller park'' like Great America "created compelling business opportunity that we couldn't pass up.'' Edited September 19, 2011 by RCFreak Link to comment Share on other sites More sharing options...
montezooma Posted September 19, 2011 Share Posted September 19, 2011 WOW this is big news...but check out the other big news: Season 5 of Shane's Amusement Attic. Here is a sneak peek at just one of the exclusives we have for you this year. Speaking of a new Entertainment District, here is a look at the old proposed Great American "Front Gate" Entertainment project. At one point this park really had some potential. Link to comment Share on other sites More sharing options...
DerekRx Posted September 19, 2011 Share Posted September 19, 2011 It was only a matter of time that this happened, though I pretty much expected Cedar Fair to take out a few more rides for its other parks first. Looks like there will be a bunch of coasters and other rides for Six Flags and other parks to buy up cheap within the next couple of years! Link to comment Share on other sites More sharing options...
KDCOASTERFAN Posted September 19, 2011 Share Posted September 19, 2011 ^^ Now that makes more sense. 70mil seemed a bit low. Shame. ...Flight Deck KD 2013 That & Delerium are probably about all I'd want from CGA. Link to comment Share on other sites More sharing options...
jdcoffeytime Posted September 19, 2011 Share Posted September 19, 2011 Wow, I didn't see this coming but I did feel like it was inevitable. My home park for 26 years, spent 4 seasons working there. I am hoping for the best.I hope they take care of what was once a really great park to go to. Link to comment Share on other sites More sharing options...
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