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BottleRock Moves Forward With New Organizers

A 2014 edition of BottleRock Napa Valley music festival moved a step closer Tuesday at a meeting of the Napa Valley Exposition board.

Expo CEO Joe Anderson said the new organizers, GSF Entertainment LLC, met all the conditions set forth by the board when it granted tentative approval to the festival in December.

Those were to obtain an asset purchase agreement from the previous owners and to pay the back rent due to the Expo.

"They satisfied all those things," Anderson said. The board has given the new investors a copy of a draft contract for them to review and then sign.

No date will be set for the festival until there is a signed contract, Anderson said.

The contract does not include a provision to repay some $8.5 million in debt to various creditors from last year's event.

However, the investors said last month they intended to pay back about $6.6 million of the total money owed.
Derry January 30, 2014 at 11:19 AM
That leaves someone getting stiffed for 1.9 million. Nice. You can be sure it's not anyone with the resources to pry the arrears from their money-grubbing fingers. I wish the "organizers" the best of luck getting any small business to sign on for a repeat of last year's debacle.

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