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Hard Rock / Freestyle Music Park Discussion Thread


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Well according to my calculations, with there new admission price, it'd take 42 people to go in the park to pay off the $375. Considering it's school season, and every TR I see it's dead empty, I don't think they'll be able to pay it off anytime soon.

 

Seriously if it were 8 dollars to get into a theme park I'd go there every weekend with my friends, it'd be our new chilling spot.

 

EDIT: Sorry the admission price was a special offer for Independence Day, nevermind...

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I love the quote from their spokesperson...

 

"We regret our vendors feel compelled to file these lawsuits in attempt to be paid by Freestyle Music Park," said John Stine, director of sales and marketing for the park.

 

What else are they supposed to do when they don't honor their end of a contract? Really? Is the new management team really so stupid that they thought none of the vendors would say anything when they didn't get paid? Did they really expect them to wait until they have taken all the money for themselves before getting paid???

 

They are heading straight for another bankruptcy...But that doesn't really matter to anyone, since a few of the former owners got their land back+more investment money for pennies on the dollar from what they originally owed, and the other original owners still got paid through claiming they owned the intellectual property of the park...so everybody wins except the investors, vendors, and employees that they tricked into believing this park would work!

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  • 2 months later...

http://www.thesunnews.com/business/story/1205858.html

 

Freestyle Music Park expects that by mid-January it will be able to pay vendors, musicians and business owners who have grown impatient as they've waited months for their money. The memorandum of understanding the park's owners signed with investors in October stated that the closing of the deal will take place between Dec. 15 and Jan. 15, said Steve Baker, president of FPI MB Entertainment, which owns the park. Part of the agreement with its new investors stated the collected debts must be paid by the time of closing. "We're working on it now. We're making progress today, we'll make some progress tomorrow," Baker said Tuesday.

 

Baker declined to say who the investors are and how much they are investing in the park. In October, Baker said it was a group of investors and not a theme park company like Six Flags or the Hershey family. The original Freestyle investors were Russian, and they recently decided the investment was too far away from them, Baker has said. Several weeks ago, those investors told Freestyle they wanted out and to search for new investors. Baker said he can't guarantee a closing date for the contract with the new investors. He also couldn't set a date for payment to the summer'svendors because the process is "out of the park's hands." The new investors are calling the shots, he said.

 

Nine lawsuits and more than a dozen mechanic's liens have been filed against the park owners for unpaid services and supplies since July. "It hurts us terribly to have them hurting," Baker said. "I take it very seriously, and I fight every day to live up to those commitments." While Matt Doda and the three other members of his local band, Willhite, haven't filed a lawsuit against Freestyle Music Park's owners, he has grown more and more frustrated with waiting on the more than $9,000 the band is owed for performing four to five days each week during August. "We are struggling with a capital 'S,' and it's directly related to Freestyle Music Park not paying us for services rendered in August," Doda said. "All four of us have something that's late due to the park not having paid us. It's destroying us. ... We were supposed to get paid early September, and it's early December now. That's crazy ... It's making our lives very tough right now. Especially now, with it being the holidays." Officials from Thomas Supply Co. of Myrtle Beach said the company didn't get paid for nearly $4,000 worth of plumbing and electrical supplies for the park this summer. The company filed a lawsuit in late September as a last resort to expedite the process of collecting money from the park. "That was the hope, but I don't think we've accomplished that," said Mitchell Richardson, general manager. "We're like everyone else. We need to get paid, of course, but we're still trotting along." Doda said he had concerns after hearing that Freestyle officials traveled to Las Vegas a few weeks ago for an attraction show for the International Association of Amusement Parks and Attractions. "How are they flying out there? I understand it's a business expense getting out there, but how could you just go out and keep doing business when there's people who provided a service for you, did everything across the board and more, and leave them out to dry?" he asked. Baker said Freestyle officials traveled to the IAAPA event strictly to ensure the park can reopen next year. "We want to make sure that this park has all the value possible to a new potential investor and buyer and the only way we can do that is to open," he said. "We didn't write a check for a new ride, we didn't write a check for a new system, but we are ready to, the minute we have a new investor."

 

The 55-acre park opened in May after FPI MBE purchased the bankrupt Hard Rock Park for $25 million in February and re-themed it. It had a slow start in its inaugural season, but attendance numbers swelled in July and August as officials increased marketing efforts and slashed admission prices. The season ended in mid-September and officials plan to reopen the park in late March.

 

I really don't know how much more can be said with this one... I hope this park can stay open because it really is pretty decent, but with all of these problems continually accumulating and now the lack of investors, I can't see them operating successfully past this season.

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Saw this coming, so it really isn't much of a surprise. I held a little hope that the new owners would be able to turn the park around, but they were still unable to get people to come unless they practically gave tickets away for free. Hopefully the rides find some good homes when the park does close for good.

 

I would like to see the park succeed, but there always seems to be a lack of money with this park. As soon as one problem is solved, the owners are faced with another one, and all the while, they are struggling to bring guests in. Hopefully this park does get on its feet, but I don't see it lasting much longer.

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i applaud the current owners for trying to keep the park open. Its a tough call for me. I really wanna see this park kept open. Both years, I have visited, ate in the park, and brought some stuff. trying to do my park but I just dont know. I hope everything works out and cant wait for the park to open back up. I really wonder what could save this park...

 

and no dont say moving it lol

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Saw this coming, so it really isn't much of a surprise. I held a little hope that the new owners would be able to turn the park around, but they were still unable to get people to come unless they practically gave tickets away for free. Hopefully the rides find some good homes when the park does close for good.

 

I would like to see the park succeed, but there always seems to be a lack of money with this park. As soon as one problem is solved, the owners are faced with another one, and all the while, they are struggling to bring guests in. Hopefully this park does get on its feet, but I don't see it lasting much longer.

Agreed.

 

If they can't make it work this next season without giving away admission like they did at the end of last year, it's all going to catch up with them sooner or later.

 

You can't pay vendors, keep a park in good condition, and have proper maintenance for rides when you're taking in five bucks per person. You just can't.

 

--Robb

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  • 3 weeks later...

http://www.thesunnews.com/news/breaking_news/story/1244220.html

 

The owners of Freestyle Music Park, FPI MB Entertainment, have until Thursday to respond to a court motion that would compel the park to pay about $570,000 in outstanding debt belonging to the former owners of Hard Rock Park, according to court documents. Alfred Giuliana, a trustee for Hard Rock Park, filed the motion Dec. 11 with the United States Bankruptcy Court for the District of Delaware.

An amended notice of motion was filed with the courts on Dec. 29, which states that if FPI MB Entertainment wishes to respond to the motion, it must do so on or before Thursday at 4 p.m.

 

A hearing has been scheduled for Jan. 14 in the bankruptcy court in Wilmington, Del. The original motion states that in March of 2009, the court entered an order in which the purchaser of the park, FPI MB Entertainment, was obligated to pay $1,200,000 to Tetra Financial Group and $507,454.56 to Data Sales Co. Freestyle paid the $800,000 that was owed at the time of the lease for Tetra, but did not pay any of the $100,000 monthly payments that were owed from the period beginning July 1 and ending Oct. 1, according to court documents. The park also made the initial payment of $84,575.76 to Data Sales Co. and five monthly installments of the same amount, but has not made the final two payments, leaving a total of $169,151.52 unpaid.

 

Freestyle Music Park plans to sign a transaction agreement with new investors in mid- to late January, which will help dozens of businesses, entertainers and vendors who have been waiting on payment from the park's 2009 debut season.

 

FPI MBE bought the former Hard Rock Park out of bankruptcy last year for $25 million. It re-themed the 55-acre park, created a children's section and added new rides before it opened Memorial Day weekend.

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Freestyle Music Park plans to sign a transaction agreement with new investors in mid- to late January, which will help dozens of businesses, entertainers and vendors who have been waiting on payment from the park's 2009 debut season.

 

Translation: "we're carefully preparing our bankruptcy to screw the vendors over while we still walk away with our money."

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As much as it hurts me to say this, cause I really do enjoy this park, I think the park is in its coffin and each one of these suits is a nail sealing its death. I'm pulling for this park to figure it out soon, but I don't think soon will come fast enough.

 

I'll say it for Robb too. "You can't run a successful park when you are selling tickets for 5 dollars"

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http://www.thesunnews.com/business/story/1250336.html

 

An attorney for FPI MB Entertainment, which owns Freestyle Music Park, has asked a Delaware judge to give the park more time to pay off the $570,000 in debt that belonged to the former owners of Hard Rock Park. The response, filed Thursday, came less than a month after Alfred Giuliano, a trustee for Hard Rock Park, filed a motion with the U.S. Bankruptcy Court for the District of Delaware, stating that the FPI MBE officials agreed to pay the amounts when they purchased the park in February. Thursday was the deadline for FPI MBE officials to respond before the motion is considered at a hearing scheduled for Jan. 14 in the bankruptcy court in Wilmington, Del.

 

In the response, FPI MBE attorney Tobey Daluz wrote that the company intends to comply with the payment provisions, but that "given the difficult operating conditions caused in part by our weak local, state and national economy, FPI has been unable to make the cure payments as planned," according to court documents. The response goes on to say that the park was open for less than four months in 2009 and that "until the park reopens or until such time that additional funds are made available, FPI has no funds or income source to satisfy the cure payments." Daluz states that FPI MBE is in negotiations with new investors and that "a reasonable possibility exists for the infusion of capital at some point in the future." Freestyle Music Park officials say that a transaction between the park owners and investors is scheduled to take place in mid- to late January. Once those investors are on board, the park will have enough money to pay the debt, Daluz said in the response.

 

The original motion states that in March, the court entered an order in which the purchaser of Hard Rock Park, FPI MBE, was obligated to pay $1.2 million to Tetra Financial Group and $507,454.56 to Data Sales Co. Freestyle paid the $800,000 that was owed at the time of the lease for Tetra, but did not pay any of the $100,000 monthly payments that were owed between July 1 and Oct. 1, according to court documents. The park also made the initial payment of $84,575.76 to Data Sales Co. and three monthly installments of the same amount, but has not made the final two payments, leaving a total of $169,151.52 unpaid. Many businesses, entertainers and vendors are still waiting on payment from the park's 2009 debut season. Nine lawsuits and more than a dozen mechanic's liens have been filed against the park owners for unpaid services and supplies since July.

 

FPI MBE bought the former Hard Rock Park out of bankruptcy last year for $25 million. It re-themed the 55-acre park, created a children's section and added new rides before it opened Memorial Day weekend.

 

Freestyle Music Park closed its debut season on Sept. 23 and is tentatively scheduled to open March 11.

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This park has potential...its a good place to go for a couple of hours...It is really fun! Just could use more :/

 

I live in SC...I must admit there are not any good coasters in SC (Intimidator isn't open yet ) But I feel bad for them..its seems every way they turn another tough money issue is thrown at them! But lets all hope they can find a great way to get through this crap and open back up for a great new season!

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Freestyle Music Park plans to sign a transaction agreement with new investors in mid- to late January, which will help dozens of businesses, entertainers and vendors who have been waiting on payment from the park's 2009 debut season.

 

Translation: "we're carefully preparing our bankruptcy to screw the vendors over while we still walk away with our money."

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