Hard Rock theme park finds buyer

Recently closed Hark Rock Park may have found a buyer. Bankruptcy court documents filed this week show that the property has received a bid of $25 million to purchase the park as is. The court filing shows FPI MB Entertainment - a corporation created Feb. 4 and registered to The Corporation Trust Co. of Delaware, a firm that helps businesses form legal corporations - placing $2.3 million down on the property and hopes to close the deal by Feb. 20.

The quick sale nature of the deal - on the seller's part, at least - may be in part to the details noted in the purchase agreement which stipulates that the purchase price of the property will decrease by $1 million if the sale is not finalized by Feb. 20 and $50,000 each day after Feb. 20 that the sale is not completed.

The buyers are pushing to complete this sale quickly because they hope to launch a soft opening of the park in time for Memorial Day, with a full opening by the following weekend. Regardless of the wants of either side, the sale must still be approved by the bankruptcy court at an approval hearing this Feb. 17.

Liz Gilland, Horry County Council Chairwoman, said she did not know all of those involved with FPI MB Entertainment and declined to comment as to whether any member of the corporation has any prior theme park management experience. Gilland also confirmed that, while there had been informal discussions regarding county and state assistance in the purchase, there had been no formal request thus far and the county played no role in locating the potential buyers.

"That is a real negative for the word to get out that maybe Myrtle Beach couldn't sustain a theme park, which would discourage anybody for years to come,"said Gilland. "To come back in and bring back to life what has died such an untimely, early death in a sense would be just tremendous PR for the beach as well as a huge boost for tourism."