Maple Grove on 2027 NHRA schedule? (15 Viewers)

[Mike]

The other series just posted on Facebook the cancellation of the rest of the 2026 nitro events. All sorts of uncertainties for 2027.

Any odds the former owners could get the facility back, or that Maple Grove (or other facilities) may reappear on the 2027 NHRA schedule? Some former NHRA national event tracks are in need of major work if they will ever host big drag races again, but Maple Grove should be race-ready.

 

[Vdubman]

This was my first thought slash question as well. Sad to hear, sounded like a lot of guys were having a good time running nitro over there.

 

[Chili]

Well for now MG remains property of IHRA. The press release acts like things will continue in the short term as a bracket program. However IHRA hasn’t been up front on any of their changes in the last year. MG may eventually end up back on the NHRA schedule but unlikely for 2027.

 

[Jim]

Records show that the mortgage on Maple Grove is held by KPK of Berks LLC. KPK is owned by the Korestsky family. So, even though IHRA purchased the track, the Koretsky family holds the mortgage. Would it go back to them if IHRA defaults on the loan?

 

[GumbyWVU]

I asked almost this very question yesterday afternoon in an IHRA forum thread. Cut and pasted below:

Hmm, could the Koretsky's take that track back? If so, would NHRA bring back an event there (kinda hard to omit that huge market within a 200 mile radius)? And if NHRA brought an event back, would they do so at the expense of one of the newer additions (Michigan, Rockingham, Maryland)? Could be a very interesting situation developing.

Would be a terrible shame for people to get burned financially. Hoping things work out for IHRA and people get paid what they are owed. Failure benefit nobody and all drag racing fans could pay in many ways.

 

[GumbyWVU]

Records show that the mortgage on Maple Grove is held by KPK of Berks LLC. KPK is owned by the Korestsky family. So, even though IHRA purchased the track, the Koretsky family holds the mortgage. Would it go back to them if IHRA defaults on the loan?

I would think so; as Ken posted in the IHRA forum thread, where he lives - as well as I do also - often times these are handshake-type deals known as "land contract sales". Generally on a default the property seller, who is acting as the bank basically, gets the property back. Granted this is a somewhat simplified definition, and I don't know how the sale agreement for Maple Grove was written, but it stands to reason Koretsky could indeed get it back upon default.

 

[T.Smith]

Why would NHRA go back? The folks at Maple Grove Raceway made their choice and NHRA moved on.

 

[Mike]

Why would NHRA go back? The folks at Maple Grove Raceway made their choice and NHRA moved on.

Which is better for your business: Racing in Michigan when you've already been near Chicago, northern Ohio, and just 1 state south 2 weeks prior....

Or racing on the eastern seaboard near Philly and the NYC metro area with millions of potential fans within a 2-3 hour drive?

 

[J. S.]

Records show that the mortgage on Maple Grove is held by KPK of Berks LLC. KPK is owned by the Korestsky family. So, even though IHRA purchased the track, the Koretsky family holds the mortgage. Would it go back to them if IHRA defaults on the loan?

I would not be surprised if IHRA just defaults on all their race track purchases. Sadly, this situation seemed pretty predictable.

Related question: Anyone know if Paul Lee ever got his big payday from the race he won a few weeks ago?

 

[Mustang]

Records show that the mortgage on Maple Grove is held by KPK of Berks LLC. KPK is owned by the Korestsky family. So, even though IHRA purchased the track, the Koretsky family holds the mortgage. Would it go back to them if IHRA defaults on the loan?

Berks County property records list all of it as MAPLE GROVE DRAGWAY INVESTMENTS LLC, HAMILTON, OH 45105

This is sickening all over again. I've been going to MG since 1992, had gotten past stomaching the idea of the track going to IHRA and was really looking forward to the double event.

 

[Rasn1320]

Records show that the mortgage on Maple Grove is held by KPK of Berks LLC. KPK is owned by the Korestsky family. So, even though IHRA purchased the track, the Koretsky family holds the mortgage. Would it go back to them if IHRA defaults on the loan?

Id bet they dont want it back

 

[mick]

guess we'll see what happens with the reading property. if cuttell doesn't want it for whatever reason/s, IMO it would be in the best
interest of nhra to bring that facility back into it's fold. not only the nat. event, but the divisionals are important.

 

[T.Smith]

Which is better for your business: Racing in Michigan when you've already been near Chicago, northern Ohio, and just 1 state south 2 weeks prior....

Or racing on the eastern seaboard near Philly and the NYC metro area with millions of potential fans within a 2-3 hour drive?

If that meant anything, the owner wouldn't have sold it. Couldn't cut bait fast enough and got left holding the bag.

...and somehow NHRA got bad press because they wouldn't hold an event there while under IHRA ownership.

Whoever owns that joint ought to be begging NHRA to come back.

 

[none]

Id bet they dont want it back

I'll take that bet. How much?
Alan

 

[T.Smith]

I'll take that bet. How much?
Alan

I'd want it back too, especially if I didn't get paid.

 

[aakar]

Whatever happens, I just hope US131 is not affected in a negative way

 

[Under_Pressure]

I'd want it back too, especially if I didn't get paid.

Yeah, whether they WANT to own the track anymore or not, if the alternative is nothing other than what the IHRA already paid they're going to take it back. Now they might turn around and sell it again right away, for racing purposes or otherwise. But it's still Koretsky's problem to deal with if IHRA stops paying.

 

[sfw1960]

Times, they are a changin' ....

 

[none]

The Koretsky's didn't hate the racetrack. But they are businessmen.
And any businessman I know has an idea of the value of an asset.
I have no idea what the real numbers are, but if I believe my asset is worth X and someone offers me X+Y+Z, I'm probably selling.
Now if the tranaction doesn't get completed for whatever reason, I will retain my asset.

Alan

 

[Butch]

I'll take that bet. How much?
Alan

Alan, for some reason when I read this, I heard DOC HOLLIDAY speaking.