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Post by Dave Schultz on Oct 10, 2010 8:48:53 GMT -5
So anyone taking bets on the closure of St. Louis?
My bet is that they announce soon. I know they have one more NASCAR race here -- so it might be after that.
Rumors I hear are that while there are some interested parties in buying from Dover -- that there is $8,000,000 well overdue in Bonds to investors and back taxes owed. The $8,000,000 is said to have already had one long term deferment -- and before the track can be sold for less than what is owed -- that it must go through a foreclosure procedure.
I guess that can be avoided if the track was sold for more than what is owed -- and some negotiation with the tax happy state of Illinois and Madison County -- known to cut their noses off in spite of their face.
If foreclosed -- I'm afraid that the track will fall into too much disrepair (as Memphis did) while in the foreclosure proceedings -- and the stands disassembled and sold while the rest bulldozed into the Earth.
Again -- this is all conjecture by many conversations in the pits and on the net -- but from so fairly well connected people that one would think had good inside information.
There is also a group of people who bought land about 20 miles north of the old Wentzville track who claim that they'll have a 1/4 mile track built next year. Personally I think that's wishful thinking in this economy.
So what are your opinions and the rumors you've heard?
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