RYE, N.Y. (AP) — Westchester County is ending its relationship with a company under contract to manage Rye Playland.

County Executive George Latimer announced Sunday the county has notified Standard Amusements that it has elected to terminate its agreement.

The New York-based private company had entered into a deal with the county to manage and renovate the 1920s Art Deco amusement park almost three years ago.

Latimer says his administration wants to see Playland "succeed and thrive," but he says he does not see that happening under the current arrangement.

Standard Amusements said the administration has been negotiating in bad faith and called the decision "deeply disappointing and devastatingly false." The company said "it exposes taxpayers to hundreds of millions of dollars in losses from Playland's extensive capital needs and needless litigation."