This is an archived version of a Field of Schemes article. Comments on this page are closed. To find the current version of the article with updated comments, click here.
December 17, 2009
Great America owner sold, 49ers impact unknown
This just in: Cedar Fair, the owner of the Great America amusement park that's suing to stop the 49ers stadium slated for its parking lot in Santa Clara, has been sold to a private investment firm. Asked what this would mean for the stadium battle, an Apollo Global Management spokesperson told the San Jose Mercury News: "No comment. At this point, that's all I'm saying."
This doesn't change the 49ers ridiculous demands for a $114M (plus $330M more from a joint-powers authority) - it only changes who their negotiating partners are.
If the Great America theme park is seen as a non-producer, Apollo could order its Cedar Fair people to cut bait and sell the park. Of the eleven parks operated by CF: Santa Clara is the only one on a Ground Lease for land for which CF has no development rights.
If Apollo is angling for some more productive partnership with the 49ers - read, rip up the theme park to suit the 49ers or for other development - then I'm betting that the "49ers Friendlies" on our City Council will cave in and give them everything they want.
If that happens: We Santa Clarans can just kiss our "Entertainment District" goodbye - because the 49ers will never be able to carry that "district" by themselves with ten game nights a year.
How important is the Apollo deal? To find out, just watch carefully what the 49ers do over the next few weeks.
Santa Clara Plays Fair