[DiscoverMB]

Do I hear $35 million?

That's the minimum price for Hard Rock Park when it goes up for auction on December 15th, per court documents, which were filed this week. It's do or die time for South Carolina's $400 million investment, which will be sold in part or while. Bid's are being accepted until December 12th.

According to the court, qualified bidders must meet the minimum $35 million price tag, put 10% down in cash and show they have the experience to run the business. There have been a several companies touring the park in the past couple of months and there are a few interested buyers. Discover Myrtle Beach previously reported on these buyers, but did not release names.

One buyer appears to be interested in reopening the park, while another may wish to relocate the assests.

Upon a potential sale, creditors will begin lining up to collect, starting with Deutsche Bank, which is owed around $18.6 million. Deutsche Bank pushed for the park's sale in court. Following the bank, lenders who gave the park $2 million to operate during the bankruptcy. Unfortunately, for stockholders and creditors, legal fees and adminstrative costs will come next, while will likely leave nothing left.

It is still unclear if Hard Rock International will allow the use of the "Hard Rock" name, if the park were to reopen. HRP Operations Myrtle Beach, the company which owned the park, had paid a minimum of $2.5 million a year to license the name.

The $400 million park had roughly 2,000 employees. Cut began over the summer and quickly dropped to a few hundred in the weeks leading up to chapter 11 bankrupcy filing. Some 75 employees remained, which dropped to about half in the last week of operations, the first week of November. The same week most employees were let go, leaving a skeleton staff of at least half a dozen, plus security.

[MyrtleFreak]

Wow! I would have never thought it would go away so fast. But, at that price, I can't imagine someone NOT buying it. Now whether they reopen it or send stuff to the four corners of the country is up in the air. If it doesn't open in Myrtle Beach, the area will be hard pressed to get someone else to come in at any later date. I'm keeping my fingers crossed that it stays.

[sugarbabies]

So sad. I was really hoping they'd make it.

[DiscoverMB]

It seems like it would be a steal, but only if somone wanted to keep it in Myrtle Beach. If say Led Zeppelin cost anywhere from $7-$10 million, that would be the most expensive ride. Would every other ride add up to at least $35 million? Not if their going to move the park. There's still the disassemble at reassembly costs on the rides. I don't think they could move the buildings and if there is no HARD ROCK name, they wouldn't need the millions in merchandising in the wharehouses. Unless I'm missing something, and there's a goo chance I am, because I really don't know, it seems like if a sale happens as a whole, it has to stay put.

...but what do I know.

[DiscoverMB]

With names now being tossed around the internet and local news stations about who is interested in buying Hard Rock Park, we thought we'd weigh in with our "so-called" information.

We we previously reported, three companies seemed to be the focus of many internet rumors as buyers....

Parc Entertainmnet: This company recently purchased Myrtle Waves and NASCAR Speedpark in Myrtle Beach and is report to Discover Myrtle Beach as one of the companies interested in the purchase. However, this "rumored" interest is also tagged with the thought that they may be interested in moving the assets of the park to other locations. This would be an unfortunate turn for Myrtle Beach, as the area would lose the park completely.

Spanish-Based Company: A name keeps escaping us as to which Spanish company keeps popping up on our radar, but Parques Reunidos is the likely thought. This company which runs about 60+ parks in Europe and America has expressed interest and is the a potential buyer who would want to reopen the park.

Our Unknown Third: Merlin Entertainment, a British company which claims to be the world's 2nd largest theme park owner, next to Disney is widely thought to be a potential buyer. Six Flags, who recently reported higher attendance numbers and profits could also be a likely 3rd candidate. We feel we can confirm that Herschend Family Entertainment (who owns Wild Adventures and Stone Mountain Park in Georgia, and part owner in Dollywood) is reported to not be interested.