Cedar Fair retains Great America ownership, everyone’s happy
JMA Ventures, the 49ers-affiliated company that was set to buy Great America from them park operator Cedar Fair, is not going through with the purchase after all. That means that the park will stay a Cedar Fair property, which seems to be just fine with all concerned parties. In addition, Cedar Fair and the 49ers appear to have come up with an agreement to keep both entities happy for the foreseeable future. From Cedar Fair’s press release:
The Company also announced that it has reached a long-term agreement with the San Francisco 49ers related to the construction of the stadium and parking for NFL and other stadium-related events for the life of the new stadium. The agreement is still subject to the execution of a definitive agreement and the approval of the Stadium Authority and related approvals from the City of Santa Clara.
It’s yet another one of those small details that needs to be worked out for the Santa Clara stadium to move forward. I’m just guessing here, but it appears that prior to the start of the lawsuit which triggered all of this, Cedar Fair laid down its cards and said, “You can shut us up if you buy the park.” The 49ers, not wanting another obstacle, acceded to the demand and put together its bid. After both parties sat down to figure everything out, the 49ers realized it wasn’t their core competency and looked for another way to make it work. Cedar Fair then dictated terms (undisclosed), the 49ers agreed after some haggling, and the two parties signed on the line which is dotted. Now I’m curious to see what new Great America-specific terms are in the 49ers stadium lease, not that there aren’t enough terms to hash out.