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.