NHRA to sell Atlanta Dragway (1 Viewer)

[andujar]

NHRA to Sell Atlanta Dragway

On a conference call today NHRA President Glen Cromwell revealed the series' plans to sell Atlanta Dragway. Currently the NHRA owns three tracks, Atlanta, Gainesville and Indy, and leases one, Pomona. Cromwell says various improvements

www.cycledrag.com

 

[Nunz]

Well I dig the fact that they are planning to invest in Indy and Gainesville, but nervous that Atlanta isn't guaranteed to stay a racetrack once it's sold.

 

[MM]

Only reason they kept it this long is because that is where Coke was based. This isn't very surprising.

 

[Luke Nieuwhof]

As much as it would suck to lose another track, my gut feeling (without any particular knowledge of the ins and outs of the NHRA) says this would be a good thing for the NHRA.

1) It's a tough time to run a venue with the pandemic, and it risks losing money.
2) If there is a good offer on the table to purchase the venue (which is very close to the interstate exit) it would be valuable cash in the coffers at was is a tough time for any sporting body.
3) Not ideal to lose the Atlanta market, but on the plus side the events at Charlotte and Bristol are relatively close.

 

[TK]

^^ Bristol is not on the schedule -yet-.... Hmmm....

 

[Notch1320]

From what I heard Amazon is going to buy it and build a distribution center on the property. The track is a dump, NHRA hasn't made any improvements to the property in years.

 

[vegasnitro]

From what I heard Amazon is going to buy it and build a distribution center on the property. The track is a dump, NHRA hasn't made any improvements to the property in years.

Amazon warehouse, same thing is happening at Route 66.

Atlanta does suck, but I’d hate to lose another track ... especially in an area of the country where there are still lots of racers in a big market. Hopefully someone will buy it as a racetrack and throw a few bucks at it, the facility has space and could be brought up to standards.

 

[T.Smith]

Amazon warehouse, same thing is happening at Route 66.

City of Joliet voted 7-0 against ISC and Hillwood Investment Group turning part of the vacant land for Chicagoland Speedway(the circle track) into an industrial park. They have huge concerns to adding to the growing the traffic problems already in the area from the distribution centers and rail yard already built there. There's also a industrial park already approved to be built south of the track in Elwood, IL. Local residents are fighting that.

ISC said they are looking to use vacant land on the tracks they own across the country because of their changing business model.

As of now it appears it is all on hold. The president of Chicagoland Speedway recently resigned. Also someone from the City of Joliet was quoted as saying..."if the tracks still make money, what's the rush?"

 

[Al]

Well I dig the fact that they are planning to invest in Indy and Gainesville, but nervous that Atlanta isn't guaranteed to stay a racetrack once it's sold.

It's hard in this day and age to sell a racetrack for it to remain a racetrack. Many people forget these facilities don't turn a huge profit. If I lived in Atlanta I would be disappointed. But at least they are within a 5 hour drive to other big tracks like Charlotte, Gainesville, etc. The closest national event track to me is the 12 hour drive to Seattle. A few years ago it was for sale but the only offers were for purchase and repurposing for other than a racetrack. So the family that owns it took it off the market to ensure it stays a racetrack. Thank goodness. You just don't see that very often.

 

[vegasnitro]

City of Joliet voted 7-0 against ISC and Hillwood Investment Group turning part of the vacant land for Chicagoland Speedway(the circle track) into an industrial park. They have huge concerns to adding to the growing the traffic problems already in the area from the distribution centers and rail yard already built there. There's also a industrial park already approved to be built south of the track in Elwood, IL. Local residents are fighting that.

ISC said they are looking to use vacant land on the tracks they own across the country because of their changing business model.

As of now it appears it is all on hold. The president of Chicagoland Speedway recently resigned. Also someone from the City of Joliet was quoted as saying..."if the tracks still make money, what's the rush?"

That seems to be good news, or at least hopeful news.

But the cynic in me says that the cancellation of all events at both tracks will allow them to go back for re-zoning in a couple of years as big money losers to grease the skids for an easy sale, and some politician will latch on to building something else there "to create jobs, increase the tax base" typical stuff.

 

[T.Smith]

That seems to be good news, or at least hopeful news.

But the cynic in me says that the cancellation of all events at both tracks will allow them to go back for re-zoning in a couple of years as big money losers to grease the skids for an easy sale, and some politician will latch on to building something else there "to create jobs, increase the tax base" typical stuff.

That's just the thing, from what I was told. The places that have been built along that RT53 corridor have not lived up to the promises of jobs and more importantly higher wage jobs. From what I was told, it's a bit of a sore spot with the City of Joliet.

One interesting thing I've read a couple times is Roger Penske mentioning Chicagoland as a place they could add an oval race to the schedule.

 

[Cliff]

That seems to be good news, or at least hopeful news.

But the cynic in me says that the cancellation of all events at both tracks will allow them to go back for re-zoning in a couple of years as big money losers to grease the skids for an easy sale, and some politician will latch on to building something else there "to create jobs, increase the tax base" typical stuff.

Even with re-zoning, the place can be hard to sell. We have a mall here in Phoenix that was re-zoned about 3 years ago; owners hoping to sell. No one interested, so the mall closed, altho property still for sale. Biggest problem is old buildings with asbestos, very expensive to remove.

 

[Jimbo]

I saw on another site that they thought Amazon was buying Atlanta Drag Strip property for another distribution site. Not sure if it's true or not.

Jim Hill

 

[TopFuel@Lions]

Could folks elaborate why in their view this track was a dump, please be specific, thanks in advance.



TopFuel@Lions

 

[vegasnitro]

Even with re-zoning, the place can be hard to sell. We have a mall here in Phoenix that was re-zoned about 3 years ago; owners hoping to sell. No one interested, so the mall closed, altho property still for sale. Biggest problem is old buildings with asbestos, very expensive to remove.

Route 66 was built in the 90s and the Oval opened in the early 00s ... I doubt asbestos is an issue. My understanding is ISC has it sold if they can get it past the city council to allow the property to be converted to industrial use. According to Tony (who lives in the area) the city council has not been cooperative. So the issue seems to be local politics, which can just as easily kill any deal as asbestos removal LOL.

What is interesting to me is that ISC has no interest in running events at the property while all of this gets sorted out. Crowds are definitely down at the NASCAR race and at the Route 66 Nationals, but I doubt they are losing money.

 

[Under_Pressure]

That's just the thing, from what I was told. The places that have been built along that RT53 corridor have not lived up to the promises of jobs and more importantly higher wage jobs. From what I was told, it's a bit of a sore spot with the City of Joliet.

One interesting thing I've read a couple times is Roger Penske mentioning Chicagoland as a place they could add an oval race to the schedule.

Though obviously not a likely outcome, would be interesting and a little ironic if Penske ended up buying Chicagoland and making it an Indycar-owned track. Since originally Chicagoland was a joint venture between IMS/Tony George and ISC, but within a couple years the NASCAR guys took over IMS' portion.

 

[T.Smith]

Route 66 was built in the 90s and the Oval opened in the early 00s ... I doubt asbestos is an issue. My understanding is ISC has it sold if they can get it past the city council to allow the property to be converted to industrial use. According to Tony (who lives in the area) the city council has not been cooperative. So the issue seems to be local politics, which can just as easily kill any deal as asbestos removal LOL.

What is interesting to me is that ISC has no interest in running events at the property while all of this gets sorted out. Crowds are definitely down at the NASCAR race and at the Route 66 Nationals, but I doubt they are losing money.

The President of Chicagoland Speedway said that this venture was not a sale and is a multi year project.

The Covid pandemic has more to do with not having races scheduled. You still cannot host major sporting events with fans here.

I should probably paste the link to the city council meeting.

 

[Mtnbiker]

Route 66 was built in the 90s and the Oval opened in the early 00s ... I doubt asbestos is an issue. My understanding is ISC has it sold if they can get it past the city council to allow the property to be converted to industrial use. According to Tony (who lives in the area) the city council has not been cooperative. So the issue seems to be local politics, which can just as easily kill any deal as asbestos removal LOL.

What is interesting to me is that ISC has no interest in running events at the property while all of this gets sorted out. Crowds are definitely down at the NASCAR race and at the Route 66 Nationals, but I doubt they are losing money.

If I am correct, Cliff was talking about the mall buildings having asbestos not the race tracks.

 

[Bruno]

Seems like a good move to sell Atlanta if they can get what they need for it. didn't they own National Trail at one point and lost it in the Pro Stock Truck battle?

 

[mikebcurve]

Seems like a good move to sell Atlanta if they can get what they need for it. didn't they own National Trail at one point and lost it in the Pro Stock Truck battle?

The NHRA owned National Trails up until a couple of years ago when the same groups that purchased Topeka took it over.