9 replies to this topic

[dstevens]

This happened just prior to Christmas though I haven't seen mention here or even heard about it until today.  In Oct the facility was transfered after a sale eariler in the year to Mitime, a Chinese investment group that planned to operate it as Utah Motorsport Campus.  Alan Wilson (yep, that Alan Wilson) is the president of the operating entity Utah Motorsport Campus.   Real estate developer Andrew Cartwright filed suit (actually his company Center Point Management) in a complaint that he offered $2 million more than Mitime and going with the lower offer violated local and state law.  The judge hearing the case agreed and vacated the sale.  Cartwright has no motorsport experience and it appears the only firm info regarding his use of the site will be for 200 luxury houses.  Mitime was slated to start the operation on Jan 1 and had already invested a fair amount in getting the facility back on line.

 

A couple of days ago the county hired Mitime to run the facility under contract while the sale is put back out to bid.  It's expected to take 6-8 months for the sale to be arranged. The 2016 season will happen in the meantime.  The 2017 season may not happen depending on the outcome of the sale.

 

 

Here is a pretty balanced piece from the supporters of the track...  http://www.savemmpnow.com/  It hasn't been updated though since the operating agreement between the county and Mitime.

 

The county wants a track there and is supportive of the racing community.  Hopefully  another great race track won't become tract housing.

[CARacer]

I'm no expert on real estate development, but it makes zero sense to me that someone would tear up the track to build houses on that land. I mean, look at this: https://www.google.c...m/data=!3m1!1e3

[Alberto]

I'm no expert on real estate development, but it makes zero sense to me that someone would tear up the track to build houses on that land. I mean, look at this: https://www.google.c...m/data=!3m1!1e3

 

 

Lots of emptiness all around the track...

[wheel]

Looks like an old army ammunition dump to the south, with all those bunkers.  Just where I would want to buy a high end home.  Probably contaminated with lots of fun stuff.  

[Peter Olivola]

Old?  Only in the sense it's been in use for a long time.  That's Dugway Proving Grounds.

 

 

Looks like an old army ammunition dump to the south, with all those bunkers.  Just where I would want to buy a high end home.  Probably contaminated with lots of fun stuff.  

[dstevens]

I'm no expert on real estate development, but it makes zero sense to me that someone would tear up the track to build houses on that land. I mean, look at this: https://www.google.c...m/data=!3m1!1e3

Based on docs that are available as public records the only use stated by Center Point was 200 homes.  Cartwright focuses now on high end properties.  Based on what he's done in Vegas my guess would be a high end gated community.  The lots are the size of 5-6 regular tract lots, homes in the 1-2 mil range.  Not likely you are going to build 200 high end homes and keep a race track operational.   Center Point has made zero comments about operating a track, has no experience and has not reached out to anyone in the industry as far as anyone knows.  Cartwright is well off but doesn't have millions in FU money.  Mitime does.

[Todd Green]

Haven't been on these forums in quite a few months, but saw this and figured I'd give an update.  Tooele County still "owns" the track at this point in time, and UMC is currently running the facility for the county.  NASA Utah has negotiated a full 2016 season and we just held our first event this past weekend.  We had around 170 entries, which is good for our region.  I've been silly enough to volunteer as our SM Regional Series Director again, so if anyone has any questions, feel free to contact me.

 

Other comments:

 

• Dugway is very much alive and well.  They explode/dispose of ordinance during race weekends every great once in awhile.  It shakes the windows of the control tower pretty heavily and throws up huge dust clouds.  (They don't reach the track though.)  Now if they'd just time it to when cars get the checkered, it'd be a pretty awesome salute.
• Houses are closer than you think.  I remember when there were no houses along the road leading to the track and now there are several subdivisions. Not an issue for the immediate future, but 30 years from now....
• The county is in the process of rewriting the RFP for the track sale.  One would presume they are being more diligent crossing their t's and dotting the i's this time around.
• We've switched to using RaceHero.io for live T&S and instant (provisional) results and it just rocks.  (Free plug for Brian. )

[Johnny D]

UMC buyer pulls out of negotiations - for now

 

The future of the Utah Motorsport Campus, formerly known as Miller Motorsport Park, has been thrown into doubt once again after the Mitime Group announced that it is withdrawing from negotiations to purchase the venue.

 

The Chinese company had been in discussions to purchase the 511-acre facility, however Xinggui Wang, manager of Mitime Group subsidiary Mitime Utah Investment, LLC, informed Toole County that it will not go ahead with the sale due to ongoing legal complications and associated costs, as well as the strengthening of the U.S. dollar against the Chinese yuan.

 

However, Wang also said in the letter that the negotiations could be reopened if the assorted problems can be untangled.

 

"When the County has resolved the issues underlying the challenges to a sale," Wang stated in the letter, "should the County re-offer UMC for purchase in a new sale, open to public bidding, Mitime may have interest in bidding."

 

Although the takeover has stalled, Utah Motorsport Campus, Inch - another Mitime Group subsidiary - has confirmed that it will extend its current facility management agreement through to the end of 2017.

 

"We are very excited to complete the agreement to continue managing Utah Motorsports Campus," said UMC General Manager Willem Geyer. "The County has been great to work with, and we look forward to another exciting season."

 

UMC will announce its 2017 season once the agreement has been signed by both parties.

 

The 4.5-mile track was a regular stop for the ALMS and Grand-Am between 2006 and 2010, and currently hosts a round of the Pirelli World Challenge.

 

http://www.racer.com...of-negotiations

[Todd Green]

Lot's of legal wrangling still going on unfortunately.  The practical reality is that not much has changed from last year and NASA will still have a 2017 season.  Schedule is here:

 

http://www.nasautah.com/schedule/

[Argus48]

Sad news.