By 1974, city officials doubted their decision to purchase the Cyclone and considered leasing the coaster to a private operator. The proposed demolition of the Cyclone was seen as potentially disastrous to Coney Island's economy. The city changed its plans to dismantle the coaster and, in April 1975, invited sealed bids to lease operation of the ride. The owners of the Astroland amusement park won the lease, with a bid of $57,000 per year. After Astroland spent $60,000 to refurbish the Cyclone, the coaster reopened on July 3, 1975.