Sticky Nicky Posted March 10, 2009 Share Posted March 10, 2009 Could this be Geauga Lake all over again for one/both? I highly doubt it because of Prowler, and Valleyfair just got Renegade 2 years ago, but you never know. I highly doubt it. The parks are both profitable and probably would only be sold as parks as the land they sit on, at least in VF's case, has horrible value right now because it is right next to a dirty river that often floods. Thats not a good place to build up some houses/condos. The only reason I can think of why Cedar Fair would sell would be because they need some quick cash. Link to comment Share on other sites More sharing options...
FeelTheFORCE Posted March 10, 2009 Share Posted March 10, 2009 I highly doubt it also, which is why I said, "I highly doubt it," lol. Link to comment Share on other sites More sharing options...
CHILLERLC1 Posted March 10, 2009 Share Posted March 10, 2009 I've read/seen corporations sell their real estate and go to leasing it to get the money out of it. I realize this is a different business. Link to comment Share on other sites More sharing options...
MillenniumChild Posted March 10, 2009 Share Posted March 10, 2009 The only reason I can think of why Cedar Fair would sell would be because they need some quick cash. They have to pay for all these Hypers their dropping in parks somehow. Or they need cash so they can drop a few more hypers. Link to comment Share on other sites More sharing options...
larrygator Posted March 10, 2009 Share Posted March 10, 2009 Or they need cash to pay down the hundreds of millions of dollars of debt. DUH! Link to comment Share on other sites More sharing options...
BeemerBoy Posted March 10, 2009 Share Posted March 10, 2009 Just cut back on new concrete and sell off a few trash cans first. After that, cut back on overpaying the brilliant minds in charge of renaming rides. If that doesn't work, then reassess where you stand. Link to comment Share on other sites More sharing options...
Ohiocoasterman Posted March 10, 2009 Share Posted March 10, 2009 Just wondering how much debt do they still have? When do you think if they keep all the parks will it get paid off? When was it planned to be paid off? Link to comment Share on other sites More sharing options...
Mataceman Posted March 10, 2009 Share Posted March 10, 2009 i believe i read that CF was down to $1.7bil in debt, down from the $2bil when they bought Paramount Parks Link to comment Share on other sites More sharing options...
MillenniumChild Posted March 10, 2009 Share Posted March 10, 2009 I think with the sale of CGA, VF and WOF and selling a ton of land in Canada and elsewhere they could easily knock a huge chuck of that debt off. It also helps cause they can just send CGA's rides throughout the chain as new additions for the next 2-3 years knocking off more debt. I think it's a smart move and a great idea for looking into this option. Link to comment Share on other sites More sharing options...
dpxtreme Posted March 10, 2009 Share Posted March 10, 2009 If CGA gets sold, who says that the park is actually going to close? If the 49er's buy the park and decide to keep it open, they could hire someone to manage the park. Link to comment Share on other sites More sharing options...
Craneman Posted March 10, 2009 Share Posted March 10, 2009 ^^ Yeah it doesn't mean they will close, they could stay open. But honestly do you believe that? Yeah it's sad to see my park close, I've been going there since early 80's. I truly believe the park has run it's last days, adding a BMX stunt show? A magic show? Like that's anything to be proud of? Canada's wonderland got Behemoth, KI is getting Diamondback, KD Got Dominator , Carowinds might get a hyper. CGA? A stunt show? CGA's time has come as sad as it is, I hate to see them go myself but we all kind of knew this was coming. Now we just have to wait and see what happens. Link to comment Share on other sites More sharing options...
Bolliger&Mabillard Posted March 10, 2009 Share Posted March 10, 2009 ^^Come for the 49ers, stay for the Intamin drop tower? Doesn't make much sense to me. If the 49ers buy CGA they'd probably buy the land, tell CF they can keep the rides, and build an extravagant parking structure. Now as for selling the parks, I see it as taking in games you've passed already into Gamestop. Yea you've beat it already, but it's entertaining every now and then. If your circumstances were better you wouldn't trade them in, but you're broke, so it's either a sell a park or donate sperm. Link to comment Share on other sites More sharing options...
cfc Posted March 10, 2009 Share Posted March 10, 2009 CGA has always been an underperforming park, I think. Marriott, the park's original developer, wanted to dismantle the place and turn the land into an industrial park because they were disappointed in their annual profits--but the city of Santa Clara objected (they ended up running the park for a few years, until Paramount came along). I remember how Great America was surrounded by a whole lot of nothing when it opened in the late 1970s (it was quite nice then, too). You could see the Sky Wheel (long since defunct) from miles away. Now it's hemmed in by a lot of other buildings. It may just be in the wrong place at the wrong time. Link to comment Share on other sites More sharing options...
tkkyj Posted March 10, 2009 Share Posted March 10, 2009 If CGA is sold to the 49ers, I wonder if Cedar Fair is retained to manage the park, like they do for Gilroy Gardens? That could be very good for them... they continue to get some revenue, but shed some of the responsibility of dealing with the city? This could be Cedar Fair's way of telling the city council to put up or shut up wrt to letting them build in the park. You'd think Santa Clara would have thought it fortunate for Cedar Fair to come in and want to improve the park by building new attractions and restoring the regular fireworks shows... but instead they jumped at the opportunity to obstruct future development at the site, using a whiny neighbor's complaint as an excuse... for what? a football team? edit: good lord, i apologize for abusing the question mark in this post. Link to comment Share on other sites More sharing options...
Goliath513 Posted March 10, 2009 Share Posted March 10, 2009 This all sounds like the publicity stunt that Six Flags put out a few years ago with such parks as SFMM. In this case, I can see one park being sold, and the others being retained. CGA would make the most since to sell since it is in the middle of a prime development area, and Cedar fair could get much more for what the park is worth compared to the others out in the midwest. Link to comment Share on other sites More sharing options...
Vffreak07 Posted March 10, 2009 Share Posted March 10, 2009 Agreed ^ The land around Valleyfair is virtually worthless in the current economy, and nobody really wants tons of Flood/Swampland. Link to comment Share on other sites More sharing options...
CP_RULES Posted March 10, 2009 Share Posted March 10, 2009 So is this what CF does: Go in, ruin a park and then sell it??? (at least in the case of WoF) Bad things Cedar Fair has done to WOF- -Removal of Zambezi Zinger (1997) -Shows and smaller rides removed along with other charming elements -Removal of Orient Express (2003... Though hard to consider a bad thing really) Good things Cedar Fair has done to WOF- -Detonator and Rip Cord added (1996) -Mamba added (1998) -Boomerang added (2000... not an amazing addition to us but the public sure does eat them up) -Thunderhawk added (2002) -Spinning Dragons added (2004) -Worlds of Fun Village added (2005) -Patriot added (2006) -Prowler added (2009) -New shows, shops, smaller rides, and other additions that added family elements and overall attraction value to the park While I don't agree with many of the changes CF made quickly after the inquisition of the park, its hardly possible to say they ruined it. The park may not be as charming as it once was, but people don't go there for the shows, they go for the rides. They've added five new coasters and removed two under-performing ones. They've done their part to get me to go there a few times over SFStL (which is the same distance), and that's what matters from a business standpoint. Link to comment Share on other sites More sharing options...
Sir Clinksalot Posted March 11, 2009 Share Posted March 11, 2009 ^ Adding coaster after coaster after coaster, while taking away the traditional elements of the park don't really equal "better park". Just look at Knott's. Link to comment Share on other sites More sharing options...
CP_RULES Posted March 11, 2009 Share Posted March 11, 2009 ^Patriot is highly more attractive than Orient Express or any new show or "traditional element" will ever be. It's hard to argue their additions haven't added to the value of the park. Link to comment Share on other sites More sharing options...
Skittlebrau Posted March 11, 2009 Share Posted March 11, 2009 You'd think Santa Clara would have thought it fortunate for Cedar Fair to come in and want to improve the park by building new attractions and restoring the regular fireworks shows... but instead they jumped at the opportunity to obstruct future development at the site, using a whiny neighbor's complaint as an excuse... for what? a football team? Besides being land-locked, CGA is directly north of the San Jose airport and may have federally imposed height limits, although they do have a sizable drop tower already. I'd think the airport proximity almost surely prevents any fireworks shows, though. Santa Clara is in the heart of Silicon Valley and the area directly surrounding CGA is host to electronics-related conventions year-round, including the Convention Center itself, which is practically next door. I've been to plenty. Santa Clara is like Vegas for nerds, and CGA doesn't really fit the neighborhood anymore. Considering the problems the city has with adding a wooden coaster, I'm guessing the city council would rather just replace CGA with more hotels and corporate buildings. Link to comment Share on other sites More sharing options...
tkkyj Posted March 11, 2009 Share Posted March 11, 2009 I'd think the airport proximity almost surely prevents any fireworks shows, though. Actually, in 2008 they had fireworks in early summer, and then every Saturday in August, and I believe they are planning to do the same thing in 2009. Link to comment Share on other sites More sharing options...
KDCOASTERFAN Posted March 11, 2009 Share Posted March 11, 2009 If they sell off WOF I'd love to see patriot get relocated to KD seeing as how it was a recent installation....of course this would never happen however but one can still dream about it. Link to comment Share on other sites More sharing options...
Mataceman Posted March 11, 2009 Share Posted March 11, 2009 i am sure if any of the park were sold for land you would see the rides relocated much like GL. If they are sold as a park it's a different story Link to comment Share on other sites More sharing options...
Vffreak07 Posted March 11, 2009 Share Posted March 11, 2009 See this is where people have crossed the line: If they sell off WOF I'd love to see patriot get relocated to KD seeing as how it was a recent installation....of course this would never happen however but one can still dream about it. About halfway through the removal process of Geauga Lake, it hit me that this could happen to other parks, such as my home park (Valleyfair). I saw people saying "Ooh I want this!" or "Oh that ride sucks, but I really hope we get this!" and it made me feel sick knowing that the rides & attractions people loved so much are getting tossed around by the enthusiasts like their worthless little trinkets. For Example: If KD just all together announced they were closing forever (not gonna happen) and then people started saying "OH we call Dominator! I don't want King Cobra, it sucks. Maybe we'll get Volcano too!" wouldn't you feel bad knowing that they could go to a park besides your own. I mean I guess this is a moral debate, but for me it makes me extremely disheartened hearing things like this. Plus for all we know, the parks may just end up fine, and not be sold. Who knows, but for now, let's leave this Geauga talk alone & talk about the actual sale. Jeez, when did sale turn into foreclosure. Link to comment Share on other sites More sharing options...
cfc Posted March 11, 2009 Share Posted March 11, 2009 Santa Clara is in the heart of Silicon Valley and the area directly surrounding CGA is host to electronics-related conventions year-round, including the Convention Center itself, which is practically next door. I've been to plenty. Santa Clara is like Vegas for nerds, and CGA doesn't really fit the neighborhood anymore. Considering the problems the city has with adding a wooden coaster, I'm guessing the city council would rather just replace CGA with more hotels and corporate buildings. What's interesting here is that when Marriott was considering turning Great America into an industrial park, the city of Santa Clara cited the loss of summer jobs and activities for teenagers as one reason that they really wanted to keep the theme park. If your speculation is correct, how times have changed. Link to comment Share on other sites More sharing options...
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