Originally Posted by Avon Open Wheel fan:
February 19, 2019...A Movieland Speedpark Lesson In Real Estate Transactions...
Today, as hundreds of you have already let me know, a sign was posted announcing the auction of the Chandler Raceway on March 20, 2019.
I CAN GUARANTEE THERE WILL BE NO AUCTION OF THE CHANDLER RACEWAY!!!
I own the property! When I bought the property, I also inherited the mechanics lien of approx 60K that was placed upon the property which is the reason for the auction announcement.
I have the funds sitting in escrow to pay off the mechanics lien AND other associated costs currently associated to the property.
AS A CONDITION OF RETIRING THE LIENS AGAINST THE PROPERTY, MY LENDER IS REQUIRING THAT I HAVE A CLEAN PHASE 1 ENVIRONMENTAL SITE ASSESSMENT (ESA) COMPLETED PRIOR TO RELEASE OF FUNDS TO RETIRE THE LIENS. THE ESA REPORT IS CURRENTLY BEING CONDUCTED.
The property, as a commercial motorsports facility, has probably had a gallon or two of motor oil and gasoline spilled on the grounds since it first opened 55 years ago. A contaminated property can cost millions of dollars in cleanup costs to a new buyer (me) IF an ESA is not completed prior to the final closing of a purchase.
Racing season will commence as I've stated.
THERE ARE NUMEROUS LEGAL WAYS TO CANCEL THIS SALE IF THE ESA FINDS PROBLEMS IN THE ENVIRONMENTAL STUDY.
It's full speed ahead for Movieland Speedpark! 1000%!!!
News just stated that the auction is court ordered. 1000% there will be no racing this year. If this guy claims to have the money in escrow then why hasn’t he had soil samples done by now. The whole thing stinks of some sort of pyramid scheme trying to sucker money out of people for the invisible golden ticket. Hopefully whoever buys it will restore it and not bulldoze it to build a warehouse.
Eat dirt, be happy
Let’s go Brandon!!
Bryan Hirshman
Pretty sad when a fictional festival at the property gets more traction on the internet than the actual track lol
Figured it was something along the lines of that. For his sake I sure hope he wasn’t accepting investment money after that foreclosure date. Either way there’s probably going to be some lawsuits. 10A8ABF5-6DC3-403B-818B-1F91328B7F04.jpg
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Eat dirt, be happy
Let’s go Brandon!!
Bryan Hirshman
Here is a good article about what is going on with the auction of Chandler Speedway by someone who did their research instead of believing everything Reno posts on facebook.
Originally Posted by nathans1012:
[B][SIZE="3"]For those the don't know who BJ is. He's related to former Late Model Racer & Illinois promoter Doug McCammon.
My dad was a racer and track promoter and my grandpa can be seen racing trucks in Smokey & the Bandit II. I guess that mean's you better take everything I say as gospel
Sorry I can"t say anything more than what has already been said cuz Number One I"m laughing my a$$ off LOL, Number two Reno I don"t need to travel all the way out west CUZ in case you don"t know it we have God here in the midwest too, Number 3 I think it will be a COLD DAY IN HELL before that track ever opens, Didn"t BJ lose a track couple years ago cuz he couldn"t pay rent and purse? Yeah like I"believe and trust him LOL.
