The prospective new owner of the shuttered Ghost Town in the Sky bid $1.5 million for the theme park ahead in an auction on February 10, 2012.
Alaska Presley, who was involved in the original opening of the park in 1960, made the bid on the steps of the Haywood County Courthouse. Presley has already acquired Ghost Town in the Sky's bank notes and assets from mortgage holder Branch Banking & Trust, and plans to reopen at least part of the property during 2012.
Presley will take full control of Ghost Town in the Sky if no higher bids are received during the foreclosure auction. This appears very unlikely, with the park having remained in bankruptcy since 2009. A mudslide hit the property in February 2010, causing serious damage to an access road, and many of its rides are in need of significant refurbishment.
A deal to rescue Ghost Town in the Sky was mooted by part-owner Al Harper in December 2010, after he agreed to sell 49% of his scenic railway company to Remodel Auction, creating a combined group known as American Heritage Family Parks. The new company announced its intent to rescue the theme park, but no announcements have been made since.
Harper was one of three owners who bought Ghost Town in the Sky in 2006, some 4 years after a previous bankruptcy forced its closure. However, the park plunged back into bankruptcy in November 2009, just two years after reopening.