BOISE -- The Idaho Department of Lands has auctioned the lease for Evel Knievel's famous 1974 launch ramp for nearly $1 million dollars.
Big Ed Beckley from Bridgeport Texas bought the lease at auction for $943,000 on Friday morning in Boise. Beckley spoke to KTVB in a story earlier this week detailing some of his plans for a 40th Anniversary jump in 2014.
The Texas-based promoter will now have two years to stage some type of jump over the Snake River Canyon near Twin Falls similar to Knievel's.
All but $2,500 of his winning bid will go to the IDL endowment fund, which benefits Idaho schools. That means nearly $1 million dollars could potentially go to the Idaho Department of Education, but only if the deal doesn't fall through.
Beckley has until October 4, 2013 to pay the winning bid amount. He also must present an event plan to IDL within five months of when the jump is scheduled, or November 1, 2014 -- whichever comes first.
Importantly, many details of the plan have yet to worked out, including bonding and insurance requirements, input from the City of Twin Falls, and approval from the State Board of Land Commissioners.
- 2-year lease with $25,000 base rent per year that grants exclusive use of 1,147 acres of state endowment trust land on the north side of the canyon for the duration of the lease.
- 3 percent of gross revenue from transmission and sponsorship rights (TV, internet, etc.)
- 5 percent of gross revenue from all other revenue streams
- $10 million commercial general liability insurance
- Post a $25,000 performance bond that guarantees IDL receives the second year's rent.
- Must have permits and permission from city of Twin Falls to by January 1, 2014.