Cedar Fair will retain ownership of park

Cedar Fair announced today in a press release that they will retain ownership of CGA due to JMA Ventures backing out. Perhaps Cedar Fair has realized the potential of the park, as it was one of their top 4 performing parks of 2011.

Interesting quote from the press release, from Cedar Fair president Matt Ouimet: “California’s Great America was a strong performer in 2011 and we are confident this will continue into the future as we build the park’s customer base through new marketing initiatives and capital investments.”

These "capital investments" are hinted at in an article by the San Jose Mercury: "[Santa Clara Mayor Jamie] Matthews said he's also thrilled to hear that Cedar Fair Entertainment plans to "make major investments" in the park, including a new waterslide attraction and roller coaster. "

Things could be looking up for CGA. Stay tuned.

City will approve (or deny) sale to JMA on Dec. 6

The city will decide on Dec. 6 if they will approve the sale to JMA, according to a document from the Santa Clara City Council. Apparently, JMA is looking to modify the lease to make the project "more financeable."

Great America SOLD

Cedar Fair has agreed to sell Great America to the 49ers and JMA Ventures, for $70 million. Read more here.

The article did note that "the Drop Zone and the Demon rides aren't going anywhere," so shelve those Demon removal rumors for now.

I don't know what to make of this yet. Could be great for the park, but also very, very bad.