Bluegreen to pay over $20M in settlement with Bass Pro Shops

Bluegreen Vacations Corp. will resume marketing its timeshare properties in Bass Pro Shops after settling a dispute, but the deal will come at a significant cost. Boca Raton-based Bluegreen (NYSE: BXG) will pay Bass Pro $20 million within 15 days of signing the deal, plus an additional $4 million on Jan. 1 for the next five years. Bass Pro will keep the remaining $1.5 million prepaid by Bluegreen under a marketing and promotions agreement.

Instead of paying commission to Bass Pro for timeshare sales, Bluegreen will pay the retailer an annual fee of $70,000 for each of the Bass Pro and Cabela’s stores where Bluegreen has a marketing kiosk. The 75 Cabela’s stores were not in the previous marketing agreement. Bluegreen will also pay $32 per vacation package sold, less cancellations and refunds.

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