Freestyle’s Ups And Downs
Freestyle Music Park in Myrtle Beach, S.C., certainly understands the roller-coaster ways of the amusement business.
Freestyle, formerly known as Hard Rock Park, recently signed a Memorandum of Understanding with a group of new investors that was expected to inject new funds into the troubled amusement park.
“This is positive news for the park and the Grand Strand Community,” president Steve Baker told the local WMBF-TV News. “The MOU requires all existing financial obligations must be satisfied prior to the closing of the transaction, which is planned for December.”
Baker said the funding would help cover maintenance over the winter, as well as marketing and sales initiatives.
Unfortunately, following the MOU came news that the rock-themed park was also hit by a lawsuit – the 17th suit it’s faced since the park’s reopening in May. The filing alleges FPI MB Entertainment, which bought the $400 million park for $25 million during a bankruptcy sale in March, purchased four rides it never paid for.
According to court documents obtained by WMBF, FPI purchased the four rides for roughly $765,000 from Zamperla Inc., a New Jersey-based amusement manufacturer. Zamperla’s suit claims FPI still owes more than $100,000 plus interest, costs and fees for the rides.
Hard Rock Park, which had rides with rock ’n’ roll themes, debuted with an Eagles concert before the poor economy and gas prices shut it down.