Track Auctions (5 Viewers)

[GumbyWVU]

Only two tracks were not purchased for cash in full so he owns them outright anything he gets now will go right into his pocket. He will recoup some but I doubt anywhere near what he spent.

Hard to say what he might get - since it's an auction, I wonder if or what the reserve will be? I don't think this is a forced liquidation or result of a receivership action.

Except for Topeka, looks like most of the facilities are in good shape (esp. Nat'l Trail, Dragway 42, and VMP). He might come out ahead on those three.

What's the old saying? Buy land, they aren't making any more of it.

I just hope they all can remain as racing venues.

 

[Jim]

Wonder how VMP did business wise prior to the Cuttell era? They did change sanctioning body affiliations a few times over the years, had only a two-day national event the past few times with NHRA, and then declined to host a national event before the most recent switch.

My recollection is that the reason VMP declined to host a national event is that they did not want to incur the debt needed to make the improvements NHRA wanted.

 

[Jim]

View attachment 18349

In and out of the racing business in one year. What an achievement.

 

[Jim]

I just hope they all can remain as racing venues.

With an auction, the seller has no control over what the buyer does with the property.

What are the chances that a potential owner who wants to keep the property as racing venues will have the resources to participate in the auction?

Who knows ... maybe a racer out there has the backing of Elon Musk!

 

[ironpony]

With an auction, the seller has no control over what the buyer does with the property.

What are the chances that a potential owner who wants to keep the property as racing venues will have the resources to participate in the auction?

Who knows ... maybe a racer out there has the backing of Elon Musk!

Exactly, who ever buys them is going to want a return and drag racing is not it. Unless they get it cheap the money is not there

 

[GumbyWVU]

With an auction, the seller has no control over what the buyer does with the property.

What are the chances that a potential owner who wants to keep the property as racing venues will have the resources to participate in the auction?

Who knows ... maybe a racer out there has the backing of Elon Musk!

Duh...

Other than deed restrictions, I agree.

I just said I hope they "can" remain racing facilities, not that they "do" or "will" remain so.

 

[Steve Wayne]

Columbus was my favorite track even over Norwalk.

Same, grew up going to the NHRA National Events, Super Chevy, Mopar Nationals, etc. Gonna be a shame to see it no longer there if they do buy it to develop it

 

[Von Halen]

Milan is being auctioned too?

 

[n/a]

Rumor mill:
There is a buyer for DWAY 42

 

[Brutus26]

Right, and they just totally rebuilt the track in 2021, I think it was.

The track is still the original; with the Foxes making upgrades to it. They did build a new (& very nice) go cart track, just west of the strip.

 

[Billy]

IN THE END, CUTTELL DIDN’T REJUVENATE IHRA - HE FINISHED IT | Competition Plus

IHRA PUTS TRACKS UP FOR AUCTION - SEE WHICH TRACKS ON THE BLOCK

competitionplus.com

 

[jgrigz]

I know VMP was functionally normally and properly, under the Franklin family anyway. After the IHRA purchase earlier this year, IHRA did have a Nitro event and the PDRA had two races there.

With any luck the Franklin family can get it back out of the money from the IHRA sale and still make a profit.

 

[aakar]

Corporations and China just lucked into some bigtime land deals, thanks Cuttell

 

[justafan]

Private Equity Firms will be circling like vultures. Not thinking this goes well for the sport.