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Old 03-08-2011, 09:41 AM
racerbob4
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Default New Jersey Motorsports Park - Chapter 11

New Jersey Motorsports Park filed chapter 11 when the local Fired Department demanded payment for past services. There is no indication that they will close the doors. Its a so so race track with nice facilities.

My guess would be that they aren't selling the condos which is a heavy debt to have to carry.
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Old 03-08-2011, 01:18 PM
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koscieldrk koscieldrk is offline
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Seeing as you brought up the subject of race tracks, pardon me for high jacking your thread. I was wondering what ever happened with the new track that they were building either in Kentucky or Tennessee. Supposidly this is the track that was going to take the place of O'Reilly. I remember a couple of races that were scheduled last year and canceled. Doe anyone have any new info on this track.
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Old 03-08-2011, 04:47 PM
t4wallace t4wallace is offline
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I think Bluegrass is the track you're talking about Dwaine. I would say it doesn't exist, except some pavement was laid and then the economy tanked. Pretty sure they were trying to make it a country club to restart the development and that didn't work either.

I'm too lazy to google it, but is there a road course within Kentucky Speedway??? That's better than nothing.

Maybe the codger that owned Putnam Park has sold or moved on... Making it possible for a fence mending with SCCA and fill the void of IRP. Sorry, just can't force myself to put an "O" on that name...
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Old 03-08-2011, 07:20 PM
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Quote:
Originally Posted by t4wallace View Post
I'm too lazy to google it, but is there a road course within Kentucky Speedway??? That's better than nothing.

Maybe the codger that owned Putnam Park has sold or moved on... Making it possible for a fence mending with SCCA and fill the void of IRP. Sorry, just can't force myself to put an "O" on that name...
Tom know what you mean about the "O". IRPis having some kind of Regional Oval race at IRP. Haven't quite figured out what that is all about.
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Old 03-08-2011, 09:34 PM
Smitty
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Hey Guys,

I do see O'Reily listed as having a few races this year!?!... So whats up with that? And your right, it will always be I.R.P. to me!

Kristian
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Old 03-11-2011, 12:08 PM
racerbob4
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The latest news is that New Jersey Motorsports Park expects to come out of chapter 11 in 160 days. They arranged for restructing existing loans, getting new loans and will pay the Millville emergency squad the $200,000 that they owe them. All good news. I think the SCCA National race is scheduled for 4th and 5th of June.
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Old 03-11-2011, 05:42 PM
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Quote:
Originally Posted by racerbob4 View Post
The latest news is that New Jersey Motorsports Park expects to come out of chapter 11 in 160 days. They arranged for restructing existing loans, getting new loans and will pay the Millville emergency squad the $200,000 that they owe them. All good news. I think the SCCA National race is scheduled for 4th and 5th of June.
i was told that one of the investors is going to buy the rest of them out and get things cleaned up. Which goes along with your post here Bob. There is no other way that a track that has NOT been profitable in years of business could come out of chapter 11 in 160 days. Most likely he will pay many of the other investors who are running scared now .50 on the dollar to buy them out and they will be happy to get it. Stuff like this has happened with virtually every track at some point.
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