Zaragoza’s Amusement Park Closes for Summer
Why the Park Won’t Open This Year
The famous Zaragoza Amusement Park will stay shut this summer – the first time in over 50 years that its gates remain closed. The current operator, PAZ SA (owned by the Morte family), told the Zaragoza City Council that “economic reasons” force them to skip the season.
Financial Troubles and Growing Debt
PAZ SA, along with its sister companies Esteo and Acuario de Zaragoza, have entered bankruptcy proceedings. Together they owe about 7 million euros. A big part of that debt is more than 500 000 euros owed to the city council for the park’s concession fee over the last ten years.
Who Is Stepping In?
The Argentine group Fenix Entertainment, which already owns 80 % of a new venture called Moncayo Leisure, is preparing to take over. The remaining 20 % is held by Jesús Morte. Fenix Entertainment plans to buy the Morte assets from the bankruptcy administrator, Alfredo Sánchez‑Rubio, after an external audit re‑values the attractions (originally estimated at 2.7 million euros).
What Happens Next? (Bankruptcy Process)
The bankruptcy administrator is finalising a report on the park’s assets and liabilities, with a deadline around June 15. Until a new operator is officially appointed, PAZ SA must keep managing the park under a “forced continuity” order from the city council.
Workers’ Situation
Staff are currently under an ERTE (temporary layoff scheme) that ends this month. The works committee says they do not want to extend it and prefer a contract termination, hoping that Fenix Entertainment will later re‑hire them based on their experience.
Only Service Still Running
For now, the only regular activity continuing at the park is the weekend communion services. The city council had asked PAZ SA to keep these commitments open, but even that will stop once the park fully closes.
The Future of the Complex
Fenix Entertainment’s Vision
Marcelo Figoli, president of Burgos CF and head of Fenix Entertainment, sees Zaragoza as a great spot to expand the group’s family‑entertainment business into Europe. Fenix already runs several parks in Argentina and promotes big‑name music acts such as Shakira and Luis Miguel.
Plans for a New Park
After buying the assets, Fenix Entertainment intends to redesign the leisure complex. The first joint proposal with the Morte family was rejected by the city council, so a new design will be created. Renovations are budgeted at around 15 million euros, with the goal of reopening the park in 2027.
Timeline and Goals
The aim is to finish the financial offer and transfer of ownership by summer or at the latest by the El Pilar festivities, with a final deadline in November. Once the takeover is complete, Fenix Entertainment would manage the park for the next 50 years.
Conclusion
Zaragoza’s beloved amusement park is facing a temporary shutdown due to serious financial problems. While this summer will be quiet, the involvement of Fenix Entertainment offers a clear path forward: a new owner, a fresh investment plan, and a promised reopening in 2027. For teens and families, the wait may be long, but the future looks set to bring a revitalised, modern fun‑fair to the city.
Source
Images Credit: www.diariodeibiza.es