Robert P. McCulloch and a chainsaw fortune.
Robert Paxton McCulloch, the founder of McCulloch Motors Corporation (the chainsaw company), bought the bridge from the City of London in 1968 for two million four hundred and sixty thousand dollars. London was replacing the 1831 bridge with a contemporary concrete-and-steel span because the original was sinking into the Thames clay at the rate of roughly an inch a year on its east side. The City put the bridge up for sale and McCulloch was the highest bidder.
McCulloch was the developer of Lake Havasu City. He had purchased twenty-six square miles of federal land along the eastern shore of Lake Havasu in 1958 to use as a chainsaw outboard motor testing site and then expanded the holdings into a planned retirement community. The bridge was a marketing device. A reason for a Midwest retiree to fly out to a Mojave Desert lake town and look at a half-acre lot. It worked. The bridge purchase made international news. By 1972 Lake Havasu City had grown from a handful of trailers to a full-service municipality.
The cost of dismantling, shipping, and reassembling the bridge brought the total project budget to approximately seven million dollars by the time the reopening ceremony took place on October 10, 1971. The Lord Mayor of London traveled to Arizona for the ribbon cutting. The bridge had not been over water for three years; the Bridgewater Channel was dredged out from the desert floor underneath it after the bridge was already in place.
