Oz New Orleans rights sold for $8.175 million

With bittersweet emotions from those close to Oz New Orleans, the rights to what is often referred to as the #1 Gay Dance Club in New Orleans, sold today to Kishore “Mike” Motwani.  Motwani, a local developer who outbid Sidney Torres IV, agreeing to pay $8.175 million for the Bourbon Street dance club.  ozheadernov

The club, located at 800 Bourbon Street is a landmark on Bourbon Street and has been a  staple in the gay community for 22 years.  Doyle Yeager, Oz co-founder and creator says that legal battles and inner ownership strifes caused the nightclub to end up in bankruptcy court.  “Significant differences in the owner’s management philosophies created a hostile environment and even though the business was able to pay all of its debt, the vast majority of the debt did not actually belong to the company itself, but instead belonged to one of the other owners,” say Yeager.  “The filing of the bankruptcy was voluntary, and was intended to be used as a vehicle for the corporations to investigate the source and purpose of most of the company’s debt.”

With years of dysfunction leading to costly legal battles, the ownership which included Johnny Chisholm and Bobby Warner just couldn’t overcome their internal issues.  According to Yeager, “Every effort possible was made to save Oz” and “this outcome was never even a possibility considered when we started the bankruptcy process.  Losing Oz is like losing a child to me.  Whatever I do from this point forward will definitely be something without partner.  I will commit my full creativity and energy to make my next venture something the gay community can be proud of, ” say Yeager.

VIP Magazine congratulates Mr. Motwani and hopes to work with him in the coming weeks as he hopefully continues the legacy of such an establishment in the gay community, especially with Southern Decadence and Gay Halloween, two of New Orleans largest and most profitable gay events right around the corner.

Similarly,  speaking with Doyle Yeager this morning, VIP has and will continue to support  Yeager in all of his future endeavors and knows that the best is yet to come for him and his family.

Publisher Rick Lara

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