Six Flags Kentucky Kingdom Deal

Ongoing negotiations between the Kentucky State Fair Board and financially strapped Six Flags regarding the shuttered Kentucky Kingdom amusement park in Louisville have reportedly reached a resolution.

The Courier-Journal reported July 25 that a tentative deal has been struck where Six Flags, in bankruptcy reorganization proceedings since last summer, would relinquish its stake in the amusement park to the fair board.

In exchange, the fair board agrees to forgive $2.8 million in unpaid lease payments and the state would have to accept Six Flags’ release of its property rights in place of paying $2.5 million in back taxes.

Harold Workman, fair board president/CEO, told the paper the bargain is subject to approval by the bankruptcy court, which could happen by late August.

If approved, the deal would clear the way for an investment group, which includes previous Kentucky Kingdom owner Ed Hart, to submit its proposal to upgrade and operate Kentucky Kingdom with a plan to reopen the facility by next summer, the Courier-Journal said.