Printable View
I have occasionally gone to see if anything has changed on the drivebluegrass.com website and when I looked today it has a statement that "Recently the judge signed the private mediation settlement that has cleared the way for Bluegrass Motorsports Park to move forward".
From the tone of the rest of the page it sounds like they are looking for investors$. What's an unfinished racetrack worth? I keep watching hoping we'll have another track to use.
Dave,
I flew over it a year or so ago - the track surface appeared to be there still, however, the earth around it had disappeared/washed away. They never did any final grading (nor paving!) of the area, so it was just dirt/clay that went downhill when it rained for a few years and no upkeep.
The road going up to the track was also in question - first, its condition, and second - if a full-size semi or toter could even get up there..
I'll try to take some pics next time I'm over that way.
It really isn't different than any other business - it is worth what the proffits from opperation dictate. While the land and improvements may have intrinsic value that itself does not influence operating income - nor the value as a business.
Given the start / stop nature of the project , a schedule which is not established, I can not really see the track as having much value at this point - Likely less than $1M - unless the land upon which it sits is worth more for another activity.
There continue to be rumors that someone is going tl buy it and put it into use.
I will believe them when I see the results.
You couldn't buy it and run anything without alot of money to A) insure yourself or B) clear the land and make it a safe track.
The runoff areas go into trees in most places, and are within maybe 100 feet from the interstate at the end of the straight... like downhill into the interstate; ouch.
They say that experience is the best teacher, so I will offer the perspective of someone who (1) has had several hundred thousand dollars of his retirement funds "invested" in joining with other hopeful race-lovers in building and operating a race facility for 14 years, (2) has been involved at various times as a board member, president, manager, etc., of it at various times, (3) has studied race track economics operation at facilities all over the country, and (4) has seen so many smart and hardworking people try to deal with the economic realities of the business in so many other facilities around the country: DON'T do it unless (1) you have a big pile of money you do not need or you can tap the resources of rich people or entities (corporations, government) who will provide the funding, and (2) you love racing so much that you are willing to donate the big pile to subsidizing a race facility that will not provide a return on the investment.
You've heard the old saying that the way to make a small fortune in racing is to start with a big fortune? You haven't seen anything until you apply that theory to building a racetrack.
I love racing, but I have decided that from now on I will be content to blowtorch my remaining money on the smaller scale that we race car owners and drivers do. See you at the track. Hopefully somebody else's track.
Casual observation seems to indicate that the only way to make money owning a track these days is to make it a "country club" track day circuit. I've heard rumors of some of these types of tracks that complain that club racing makes them virtually nothing on a weekend, while they can cater to others that merely want to drive their expensive road cars at speed. Most of these guys have tons of expendable income, carry their own insurance, require very little in the way of manpower at the track, and don't bring massive amounts of equipment and support vehicles...In and out, thank you very much. Nothing against that type of driver at all, it's just a shame that there are a few tracks that are beautiful that won't even host an SCCA event.
I heard from an inside source that VIR turned down the invitation to even discuss having the Runoffs there because they deemed it a break even event, at best.
Race Tracks are gifts from those with Big $$$$ & an even BIGGER love of racing... In many cases, Profits aren't the primary motivation.... I, for one, am Thankful for their Generosity. Without them, I'd have to go out & make my own Big pile of $$$$$ & build a track of my own. Thankfully, I can go to many tracks for relatively little $$$$ and play. And.... I get to buy their old karts, cars, trailers & used tires :) Thank You !!!