jedimaster1227 Posted June 15, 2012 Share Posted June 15, 2012 Bluegrass Boardwalk has sent us a press announcing their withdrawal from the Kentucky Kingdom revival project. Following nine months of planning to reopen Louisville’s shuttered amusement park, Bluegrass Boardwalk, Inc. today withdrew from the project. “We entered into this discussion last October with full expectation of leasing the park,” says Bluegrass Boardwalk CEO Natalie Koch. “However, we have come to the realization that leasing a park rather than owning it would take us too far from the business model my family has followed for more than 60 years.” Koch says she and her partners were financially prepared to meet the challenge of reopening the abandoned park, however the many layers of governmental regulations and stipulations ultimately caused them to withdraw. Koch says she and her partners believe reopening the Louisville park is still a worthwhile project and they wish the future operator well. “It’s been a lifelong dream for my family to operate a second park,” says Koch, whose family owns and operates Holiday World in Santa Claus, Indiana. “It’s hard to walk away from what we believed was a winning partnership for Kentucky and our team. But at the end of the day, the terms of the project did not fit our business model. It was time to withdraw.” A letter terminating the proposed lease agreement was delivered to the Kentucky State Fair Board this afternoon. Link to comment Share on other sites More sharing options...
sobrider Posted June 15, 2012 Share Posted June 15, 2012 Sad but not unexpected. Once you kicked the tires a bit more they had to realize this was bad idea and to get out before the sank them Link to comment Share on other sites More sharing options...
robbalvey Posted June 15, 2012 Author Share Posted June 15, 2012 Two things - 1. I can't say I'm surprised - but happy they came to this conclusion now rather than later. 2. I don't ever see this park re-opening again. --Robb Link to comment Share on other sites More sharing options...
A.J. Posted June 15, 2012 Share Posted June 15, 2012 AAAAAND...cue makeshift campaign to save Greezed Lightnin' with nothing but a pickup truck and some rusty wrenches in 3, 2, 1... Link to comment Share on other sites More sharing options...
Midgetman82 Posted June 15, 2012 Share Posted June 15, 2012 (edited) ... Speechless... Absolutely... and utterly... speechless... I'm not sad or mad, nor am I shocked. I just can't believe how hard it seems to reopen a park that a large company abandoned after plucking a few of it's good feathers, and I can't believe how the two groups who tried to save it blame it's condition and the state of Kentucky for making it too difficult. I give up on this park. Edit: Even Six Flags commented that leasing the park was something they didn't like, especially when they were near bankruptcy. Edited June 15, 2012 by Midgetman82 Link to comment Share on other sites More sharing options...
ernierocker Posted June 15, 2012 Share Posted June 15, 2012 Yeah, looks like they have come to their senses and are "gracefully" bowing out. Like Robb said, glad they are doing this now rather than after string the project along any further. Link to comment Share on other sites More sharing options...
chadster Posted June 15, 2012 Share Posted June 15, 2012 (edited) I thought something was strange when I tried to talk to Pat Koch about the project at Holiwood nights as she gracefully side stepped any reference to it. Just goes to show that anytime a board or government body is involved things can turn south quick. And it is very true, we all know this, that without proper maintenance and upkeep any property be it a mall or amusement park that is unoccupied, the facility will deteriorate to the point of no return. So shame on the fairboard for not doing more to protect the tax payer's property, only they are to blame for the parks condition. Edit: Did you guys watch the news footage of the park posted here? Reminds me of SFNO. I'm afraid I'm gonna have to agree with Robb, stick a fork in it, it's done. Edited June 15, 2012 by chadster Link to comment Share on other sites More sharing options...
sobrider Posted June 15, 2012 Share Posted June 15, 2012 ... Speechless... Absolutely... and utterly... speechless... I'm not sad or mad, nor am I shocked. I just can't believe how hard it seems to reopen a park that a large company abandoned after plucking a few of it's good feathers, and I can't believe how the two groups who tried to save it blame it's condition and the state of Kentucky for making it too difficult. I give up on this park. Edit: Even Six Flags commented that leasing the park was something they didn't like, especially when they were near bankruptcy. The problem is after you took what was good. They didn't close up properly. They just took the rides and left. Nature moves quick when its not maintained. Plus even when it was open Six Flags didn't always give it TLC. Link to comment Share on other sites More sharing options...
cfc Posted June 15, 2012 Share Posted June 15, 2012 Sometimes it's best to just cut your losses. The Kochs have been very successful with Holiday World--why take on a risky endeavor like the old Kentucky Kingdom park? Link to comment Share on other sites More sharing options...
Meteornotes Posted June 15, 2012 Share Posted June 15, 2012 Not surprised at all. This place is officially done. I think there are too many layers of government involved to make this a project worth taking on for any company. dt Link to comment Share on other sites More sharing options...
DBru Posted June 15, 2012 Share Posted June 15, 2012 Sometimes it's best to just cut your losses. The Kochs have been very successful with Holiday World--why take on a risky endeavor like the old Kentucky Kingdom park? That's what I've been thinking all along. It seemed like a...strange...move in the first place. I can't help but feeling the fair board should've just stuck with Hart and let him do what he could from the get-go. Now he's not coming back, Holiday World has no reason to care, and surely no one else is interested. Bad moves on everyone's parts. (Except for the Koch's---I'm guessing this whole deal hasn't/won't hurt them in any way?) Link to comment Share on other sites More sharing options...
coasterdude5 Posted June 15, 2012 Share Posted June 15, 2012 It's sad to see something like this unfold, but we have to give it to the Kochs for at least making an attempt. Maybe they would be better off just buying some land (perhaps just outside of Louisville) and opening up a smaller park. Link to comment Share on other sites More sharing options...
slappybob Posted June 15, 2012 Share Posted June 15, 2012 This was a smart move for them it was going to end up as a big flop anyway.... Link to comment Share on other sites More sharing options...
KDCOASTERFAN Posted June 15, 2012 Share Posted June 15, 2012 This was a smart move for them it was going to end up as a big flop anyway.... Sadly this park was too far gone to save. I'm not sure but the Kochs may have only taken interest in reviving the park when Hart's bid failed because had he succeeded a revitalized KK might've brought more competition for HW,even if it was very small at best.Still you can't fault them for trying so passionately. Link to comment Share on other sites More sharing options...
gisco Posted June 15, 2012 Share Posted June 15, 2012 Not surprised at all. This place is officially done. I think there are too many layers of government involved to make this a project worth taking on for any company. dt QFT! Link to comment Share on other sites More sharing options...
mikeykaise Posted June 16, 2012 Share Posted June 16, 2012 well, well, well, no surprise but the Koch family has withdrawn from the Bluegrass Boardwalk project. Its never going to reopen because no one wants to deal with all the headaches that come with dealing with the Kentucky State Fair board. Here is the official statement from the Bluegrass Boardwalk website: Bluegrass Boardwalk withdraws from project June 15th, 2012 Paula We’re so sorry to share this sad and disappointing news. Thank you to all who expressed their unbridled enthusiasm in this project. We will remove this website plus our Facebook and Twitter pages within the week. The following news release was emailed to the news media this afternoon: Bluegrass Boardwalk withdraws from project (June 15, 2012) Louisville, Kentucky —Following nine months of planning to reopen Louisville’s shuttered amusement park, Bluegrass Boardwalk, Inc. today withdrew from the project. “We entered into this discussion last October with full expectation of leasing the park,” says Bluegrass Boardwalk CEO Natalie Koch. “However, we have come to the realization that leasing a park rather than owning it would take us too far from the business model my family has followed for more than 60 years.” Koch says she and her partners were financially prepared to meet the challenge of reopening the abandoned park, however the many layers of governmental regulations and stipulations ultimately caused them to withdraw. Koch says she and her partners believe reopening the Louisville park is still a worthwhile project and they wish the future operator well. “It’s been a lifelong dream for my family to operate a second park,” says Koch, whose family owns and operates Holiday World in Santa Claus, Indiana. “It’s hard to walk away from what we believed was a winning partnership for Kentucky and our team. But at the end of the day, the terms of the project did not fit our business model. It was time to withdraw.” A letter terminating the proposed lease agreement was delivered to the Kentucky State Fair Board this afternoon. Link to comment Share on other sites More sharing options...
A.S.Coasters Posted June 16, 2012 Share Posted June 16, 2012 It doesn't suprise me, though it's sad to see the park being kicked back down even further than when SF dropped it. Link to comment Share on other sites More sharing options...
Skycoastin Steve Posted June 16, 2012 Share Posted June 16, 2012 I'll take "Things That Aren't Surprising in the Least Bit" for $500, Alex. Link to comment Share on other sites More sharing options...
OCJ48 Posted June 16, 2012 Share Posted June 16, 2012 I'll take "Things That Aren't Surprising in the Least Bit" for $500, Alex. "This theme park project failed after the second interested party left the table due to poor local governmental choices and a general state of disrepair." Yeah, not really surprising at all. What WOULD be surprising is if Ed Hart or the Kochs decide to try their hand at a certain park in Myrtle Beach... Link to comment Share on other sites More sharing options...
Jew Posted June 16, 2012 Share Posted June 16, 2012 What's sad is that if the Koch's were able to get the park up and running, it probably would have worked quite well for them. Selling combo passes probably would have helped both parks. Too bad government red tape got in the way. Now what's left of the park will most certainly be sold in pieces so the fair board can recoup something from this mess... Link to comment Share on other sites More sharing options...
KI Kidd Posted June 16, 2012 Share Posted June 16, 2012 Well at least the local scrap yards will see a boost in revenue. Link to comment Share on other sites More sharing options...
GrapesLie Posted June 16, 2012 Share Posted June 16, 2012 Well This really is a shame! But again it's not surprising. As we all know the board has a history of being . . . difficult. Oh Well I'm sure in the end this is a wise choice for Holiday World. Although I was really looking forward to going to that park with Koch family Running it! It was a basic guarantee of a world class wooden Coaster for the park! Oh Well. Link to comment Share on other sites More sharing options...
disneyfan1313 Posted June 16, 2012 Share Posted June 16, 2012 Not surprised in the least! Although I do wonder if now shady investment firms (ala HRP) are going to come sniffing around soon. Link to comment Share on other sites More sharing options...
cfc Posted June 16, 2012 Share Posted June 16, 2012 (edited) Not surprised in the least! Although I do wonder if now shady investment firms (ala HRP) are going to come sniffing around soon. You mean like Uncle Pennybags? I've never been to Kentucky Kingdom in any of its previous incarnations, so I have no opinion on the park's quality (or lack thereof). Wouldn't have minded riding Deluge, though. Edited June 16, 2012 by cfc Link to comment Share on other sites More sharing options...
Chittlins Posted June 16, 2012 Share Posted June 16, 2012 This remends me of a previous fair board that couldn't get anything right. The Mid South Fair and Libertyland. It's now a tailgating spot for a team that's horrible. Link to comment Share on other sites More sharing options...
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