Forrest Adams of the Chanhassen Villager reports:

CHANHASSEN -- Two groups of prospective buyers were scheduled to tour Chanhassen Dinner Theatres last week, according to the theater company’s broker.

Mike Hannon from Lingate Financial Group said one of the groups is local. The other is not. One is theater-based. The other is not. Citing client confidentiality, he declined further comment.

This comes one week after a deal by another potential buyer failed to materialize. On Nov. 16, Shorewood entrepreneur Greg Frankenfield announced the termination of his purchase agreement with Chanhassen Dinner Theatres.

“Unfortunately we were unable to reach satisfactory conditions on a key contingency of the purchase that made it an opportunity we chose not to pursue further,” he stated in a press release. Later in the week he confirmed the deal was off and elaborated on the inability to “reach satisfactory conditions.”

“It’s finished. It’s not a negotiating ploy. It’s done,” he said.

The holdup, he said, came after approximately 10 days of contract negotiations with the Twin Cities Musicians Union failed to achieve a contract that would be acceptable to both sides. In other media reports the union’s president was quoted saying the amount of money paid to the musicians isn’t significant enough to make a difference.

For his part, Frankenfield said the contract desired by the musicians’ union would have created “a company with two different classes of employees.” Actors audition for each show. The musician’s contract guarantees employment, mandating that nine musicians perform in each show on the main stage, according to Frankenfield.

“I was pretty disappointed that we couldn’t reach an agreement and move forward on the deal,” he said.

He denied the deal was about money or any other issues at the theaters.

“It’s not really about money at all. It’s about the flexibility to operate the business in the manner we need to,” he said. “There were other challenges, but nothing that would cause us to terminate the deal.”

Hannen said it is not unusual “to have a deal” like this “hit a speed bump.”

“If this wasn’t the Chanhassen Dinner Theatres, it wouldn’t even be newsworthy,” he added.

Forrest Adams is a staff writer for the Chanhassen Villager. He can be reached at fadams@swpub.com.