According to bankruptcy court documents filed Wednesday, February 11, Hard Rock Park has found a buyer. The park's purchaser, FPI MB Entertainment, LLC has initiated a down payment of $2.3 million to purchase the park as is for a total of $25 million.
The new buyers are hoping to have the park ready in about 90 days, with a soft opening prior to Memorial Day and a full opening on Memorial Day weekend.
The transaction must still be approved by the bankruptcy court at an approval hearing scheduled for February 17. In order to facilitate a quick sale, FPI is asking for $1 million off the purchase price if delays prevent them from completing the acquisition by February 20, with additional drops in price for every day there is a delay past February 20.
FPI MB Entertainment was incorporated on February 4 in the State of Delaware. It is registered to The Corporation Trust Company, a Delaware firm that helps businesses legally form corporations.
ACE News Now will publish more details as they become available.