2021: On March 2, U.S. Bankruptcy Court Judge Jeffery A. Deller approved the sale of Conneaut Lake Park to Keldon Holdings, LLC for the amount of $1,200,000. Keldon was ultimately the only bidder for the property. The sale was estimated to cover 60% of the park's remaining liabilities. On March 17, the new ownership announced that "blighted wood" was being removed, and that the safety of unspecified rides was being evaluated. Tumble Bug was placed into storage with the intention of it returning in 2022, before it was deemed beyond repair. Blue Streak was also announced to be closed for the year.

2022: On January 4, 2022, while Blue Streak was being demolished, a controlled burn used to dispose of the discarded wood spread to the portion of the coaster which was still standing. The coaster was destroyed in the fire, and completely demolished. No announcement of the coaster's closure had been made prior to its demolition. In March 2022, the Splash City water park was also demolished.