Kat Jones and New Zealander Harold Garmonsway had Garmonsway's payment for the Big Dipper delivered FedEx to the current owner's agent Tom Woosnam on Thursday.
Woosnam confirmed the payment but no purchase price has been disclosed.
The Big Dipper is the seventh oldest roller coaster in the United States, the 12th oldest in the world, and once held the record for the longest ride.
Designed without calculators by John Miller, the reigning coaster designer of his day, the Big Dipper thrilled patrons for 82 years until the park was closed Sept. 21, 2007.
The new owners are hoping to reopen the coaster and have made a public appeal.
"We will have to move the Big Dipper," they said, "but we are confident that, with your help, we can reopen it to the public. The Dipper will fly again."
The new location hasn't been decided but discussions are underway.
For now, they intend to dismantle the coaster and store it in Northeast Ohio until the appropriate site is secured.
You can find more details about the project on their new website savethedipper.org