Monday, September 19, 2011

Cedar Fair Moves to Unload California's Great America

In a surprising, yet not too surprising move, Cedar Fair announced this morning their intent to sell California's Great America for $70 million to JMA Ventures, LLC.

Click here to read the official announcement.

Interesting enough, JMA Ventures does not have any theme park experience but they are currently "serving as managing partner of over $500 million in existing projects spanning hospitality, leisure, residential developments, retail, office and industrial/telecom." I've also been told that JMA is heavily involved with the on again, off again 49ers stadium that is planned for the park's overflow parking. It will be interesting to see how the park's future pans out.

Editor's note:  Since Kevin covered this story several articles have come out with some new details.  First, JMA Ventures will be partnering with the owners of the 49ers for the sale, and at least as of now it sounds like the plan is to keep the park open.  That combination means the 49ers have full control over the land, so long as the city sees fit.

Another story confirms that the management lease of Gilroy Gardens will transfer to JMA, axing Cedar Fair's involvement with that park, too. -Mike