If you haven’t heard yet Rothbury 2009 will (likely, supposedly, hopefully) happen. Though it doesn’t necessarily show on the festival’s website, it’s been a long road for Rothbury festival promoters Madison House, but together with AEG they struck a deal that was approved by a federal Bankruptcy Court Judge on January 6th as reported in the Muskegon Chronicle.
I’m still curious because of what I read in the above stories.
And I wonder how these types of leasing arrangements will affect the local real estate market and other festivals affected by the nationwide real estate meltdown.
“AEG would pay $285,000 to lease nine parcels of land in the 2,000-acre resort in Oceana County’s Grant Township through Aug. 30. The only buildings the festival would use would be the Art Barn and the Rodeo Arena, according to the proposed lease.”
“The proposed 2009 lease does not include a $50,000 bonus and a payment based on 10 percent of all food and nonalcoholic beverage sales during the event, provisions that were in the 2008 contract signed by resort owners Bob and Joan Lipsitz.”