A newly founded company, FPI MB Entertainment, has agreed to acquire the assets of the troubled Hard Rock Park in Myrtle Beach, South Carolina, US.
FPI has agreed a price believed to be around US$25m for the park and announced that it aims to reopen the attraction in time for the 2009 season.
FPI is a joint venture between Freestyle Park International, a division of MT Development of Moscow; Roundbox Advisors; and a group of local Myrtle Beach area investors.
And as yet unnamed theme park management company, described as "world-renowned" by FPI, has been retained to manage the operations of the park.
The US$400m (£267.6m, 287.4m euro) theme park opened in March 2008, but closed after just one summer.
The park's previous owners, HRP Myrtle Beach Holdings, filed for Chapter 11 bankruptcy protection in September 2008 and the park was made available for a reported minimum price of US$35m (£23m, 25.1m euro).
