Six Flags intends to buy the city's $52 million interest in Discovery Kingdom theme park, thus ending a multi-million dollar profit-sharing agreement. The park's president announced the company's intentions in a private meeting with City Manager Joe Tanner on Friday, officials said.

The purchase should be completed within two months, officials said. The current bond is $52 million, but Vallejo Finance Director Rob Stout said the park will have to pay more if the city's pending assessment of the 135-acre property's value comes in higher.

Vallejo posted a bond for the park, formerly called Marine World, in exchange for a cut of the total profits. If Six Flags ever exercised their right to buy out the city's interest, then Vallejo would recieve a 'park admission fee' equal to a flat 2.5 percent of ticket sales. However this will not happen until next year, so the city will still receive a share of the total profits for another fiscal year.