Hard Rock Park sold to FPI MB Entertainment for $25 million*
Written by Robert Niles
* Updated throughout: A bankruptcy judge today approved the sale of the closed and bankrupt Hard Rock Park to FPI MB Entertainment.Tweet
The deal is for $25 million - quite a discount from the $400 million the park reportedly cost to build. The judge said that a competing bid from a new group calling itself Coastal Entertainment, came with "too little, too late," according to a live blog from the courtroom on the Myrtle Beach Online site.
We did a little digging into FPI's background last week. The sale is to close by Thursday, and we're awaiting word if FPI can reach a deal with Hard Rock International before then, to preserve the park's branding. If they can't, FPI will have to rebrand the park and destroy all unsold Hard Rock-branded park merchandise.
Update: FPI MB Entertainment has confirmed that Baker Leisure Group will manage operations at the park. (We first reported the connection between FPI MB Entertainment and Baker here on TPI last week.)
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