Who wants to buy a race track?

[PAPA]

The appraised value is approx. 0.56 per sq.ft.. I wonder how much they are asking for it?

[BobbyChaffee]

The appraised value is approx. 0.56 per sq.ft.. I wonder how much they are asking for it?

 

I know a real estate guy that might be able to find out.

[PAPA]

Just for grins give him a call Bobby. Let us know what he finds out.

[wheelchair49]

The sign said for sale by owner!! I just assumed that jessie owned it as I read somewhere that she bought it for him. But you know what happens when you assume! The sign looked new and it was one like you buy at a hardware store. Some one may stop and check the phone number as I can not in my chair. It was next to the gate where you went in.

[jwmbishop]

Nothing sinister in the plan. The Band Aid Charitable trust was deeded the property (and it becomes a charitable deduction at fair market value or cost basis whichever is lower). The trust then owns the property and all related liabilities. To use the property it is then leased out to whomever operates it (austensibly Jesse) for an amount that allows room for profit. As long as related party transaction rules are followed it works no different than if you or I operate it.

 

Once in the trust Sandra and Jesse are no longer the owners! They are not selling it nor can they control any aspect of the property sale. the trustee probaly has their interests at heart - but under Texas Trust laws - the TRUST is his primary fiduciary responsibilty - not the individuals. he could go to prison if he puts the individuals ahead of the trust in his management decisions...

 

As for the original question... let's see, purchase a piece of property that used to be a race track, start from scratch and create a whole new one, develop build and promote a venue for as many different folks as possible - each with their own idea and loudly expressed opinion of every aspect from how the points should be awarded to what color the damn toilets should be... and no matter what decision you make it will be wrong and you will blasted, insulted and sued many times over. Work a 40 hour job and devote another 40 to the track for absolutly no profit (and most likely huge losses until sponsors step up and take some of the pain away).. and through it all the constantly being told how to do it from people who have never invested and sacrificed anything into a project that benefits others more than themselves....

 

Tough decision but I'll pass. I'd rather buy a septic pumper - at least then at the end of the day there are people that appreciate your efforts.

[NickHolt]

I'm sure a lot of promoters are giving Mr. Bishop's post a huge "Amen!"

 

Yes, there are plenty 'boo birds' out there who attack anyone who tries to do anything constructive within the racing community. Boo birds are usually, as Mr. Bishop correctly points out, very vocal and don't seem to care who witnesses their childish, negative outbursts. And, yes, no matter how thick their skin, sooner or later every promoter I have known seriously considers throwing in the towel because of all the negativism. Some actually do just exactly that.

 

But, rarely heard from are the vast majority of the racing community who actually appreciate the efforts and financial commitment made on their behalf and support the track and its management in many unseen, often very private, ways. They usually don't get on racing websites and say anything positive because they know that they will be accused by those same 'boo birds' of "being up someone's butt" - or worse - should they actually show public support for the track management.

 

I try very hard not to give the 'boo birds' a soap box here and over the years we have seen a gradual transition from "mostly negative" to "mostly positive" posts. It's been an uphill battle for sure and I'm very, very tired of the battle. Many people I thought were my friends are no longer my friends and many people I have never even met call me names that would make a sailor blush.

 

I, for one, would love to manage the Austin track in spite of the guaranteed risks. And I'm sure there are others who understand and can somehow cope with the negatives that all promoters - both the good and the bad - face on a daily basis. If someone does come forward with a bunch of financial backing to resurrect and operate the facility, give me a call.

 

Nick

[PAPA]

Nothing sinister in the plan. The Band Aid Charitable trust was deeded the property (and it becomes a charitable deduction at fair market value or cost basis whichever is lower). The trust then owns the property and all related liabilities. To use the property it is then leased out to whomever operates it (austensibly Jesse) for an amount that allows room for profit. As long as related party transaction rules are followed it works no different than if you or I operate it.

 

Once in the trust Sandra and Jesse are no longer the owners! They are not selling it nor can they control any aspect of the property sale. the trustee probaly has their interests at heart - but under Texas Trust laws - the TRUST is his primary fiduciary responsibilty - not the individuals. he could go to prison if he puts the individuals ahead of the trust in his management decisions...

 

As for the original question... let's see, purchase a piece of property that used to be a race track, start from scratch and create a whole new one, develop build and promote a venue for as many different folks as possible - each with their own idea and loudly expressed opinion of every aspect from how the points should be awarded to what color the damn toilets should be... and no matter what decision you make it will be wrong and you will blasted, insulted and sued many times over. Work a 40 hour job and devote another 40 to the track for absolutly no profit (and most likely huge losses until sponsors step up and take some of the pain away).. and through it all the constantly being told how to do it from people who have never invested and sacrificed anything into a project that benefits others more than themselves....

 

Tough decision but I'll pass. I'd rather buy a septic pumper - at least then at the end of the day there are people that appreciate your efforts.

 

There are people out there that ARE willing to devote their time and money. We just havent found them yet. Never give up on the history of our Texas tracks. If we give up hope then they are truely gone for ever. I never will.

[jwmbishop]

It is a tough job - two of my dearest friends prooved that to me many times over. Earle Brucker and his son Steve worked tirelessly and gave an entire community a place to call home away from home. Earle was a cogety old fart who stood his ground - right or wrong (but usually right in the long run), when he died and Steve took over many of us learned first hand how hard a job it really is - Steve was good at delegating and the tasks soon overwhelmed many of the good hearted volunteers. But one thing they both had in common - a HUGE heart. I busted Earle one night "side gating" a bunch of teen hoodlums. Turns out they were from a group called Friday Night Live sponsored by CASA. They were all gang membership targets - otherwise known as "at risk youth" and he spent quite a few bucks out of his pocket paying their admission (a lot of the drivers and other voting members of the association did not care how disadvantaged they were - "no money no entry"). He let em in and placed the purse money their tickets would have contributed into the coffer out of his own pocket. I picked up a very good second wrench out of that crowd.

 

I learned how to cuss listening to some of the tirades directed at Earle. Yet he never publically lost his cool. Steve on the other hand was different - he would bow up - which of course (given Steve's sheer size) would quickly end any confrontation! But just like his Dad he gave a ton more than he got. One night he would not let me enter a car - too much interior sheet metal removed (there was none left - but the car had come down thru classes over its 5 year span and all removals were to accomodate repairs, bars etc - which the rules said was okay subject to tech approval). I was hot and admit - I cussed him a good one. I stormed out and sprayed gravel leaving and figured I would get a lifetime ban. Imagine my suprise when he pulled up in front of my house the next day (Sunday morning no less) with an exact replacement body ('69 skylark GTX) on the trailer. Free. Just had to do some slicin, dicin and welding to wrap it around my cage.

 

Yes there are people out there who can make the sacrifices - but I know (just as I know that I do not have the cool under pressure needed to be a successful driver) I just do not have what it takes. I have long priors for throwing fuel rather than O-2-cool at the fires!

[Definitive]

I may have to drive around 250 miles round trip to go to THR and over 400 miles for the trip to HMP,but I am very grateful to everyone involved in making sure we have some racing to watch.

 

I am just a fan.I have never owned a race car.I never drove a race car,except the 15 laps in the racing school truck at THR.I have helped many people on a very small level work on their cars in their garages or at their shops.I have never helped at a race track.I have been involved in the formation of a fan club to do what we could to help promote the sport as a whole.

 

That being said,I have been around the sport long enough,looking in,to know how fragile this sport is.What the promotors and owners that are left in Texas are doing is great.There have been many(too many to remember)things posted on this forum over the years refering to how things should be done better.

 

The bottom line,after all the suggestions,complaints,wishes,rants,threats,promises are in,is that us race fans and you racers just need to attend the events.

[stan]

Didn't know it was still there, spent many Friday nites there in 60's and earley 70's, with super stock # 50 and super stock # 2, Harold Oatman And Buddy Yantis, Fred Elbel, Buddy Jergens, Don Fowler, Bubba Storback, Buddy Yantis, Harold Oatman, Clarence Lovell, a few of the San Antonio boys, Waldo Harper, Jimmy Fingers, Bud Simpson, "The Flying Swede" Calvin Gustifun, some of the Austin boys, also Terry Labonte raced there, I think Lou Wusterhause family owned it then Lou race there also, they owned it when he got killed at Texas World Speedway, didn't Ricci Ware Owned it later? my memory not that good any more had some good time there going and comeing, like Fred Elbel losing his car off trailer going there one Friday nite.

[racer61]

My opinion,

I dont want to own it or run it. But Nick, if your in charge you bet my cars will be there.

I left Texas to go to work in Nascar and the track closed while I was gone and THR popped up. Things changed alot while I was gone. Im by no means saying I prefer Austin over THR, just would like more variety, but I do understand the economy and the times making succesful tracks hard to come by.

I dont know, nor do I want to know, what Mary Ann spends out of her own pocket to keep THR running. It would probably scare me to death. But Im very glad she does or I might be out of racin all together. So if I havent said it before, THANKS Mary Ann!!!!

 

 

Cory

[PAPosse]

was messin around and found this. click on this link, in the search at the top type in Longhorn Speedway..... get your kleenex..

 

 

http://www.flickr.com/photos/hotvdub/

 

Kind of ironic with the sunset.

 

I never saw a race there, but I hate to see old racetracks like this - there's so many stories to tell.

[Hansen99]

After reading all these posts I feel humbled and very THANKFUL for the track we do have I seem to learn something every time I click on to speedzone lately

[marvinmcgee]

Just got off the phone with the realtor from Stratford Arms Commercial.

There will not be an racetrack at that location any time soon!

Asking price is... are you ready for this ....$4 MIL

Must be some GOLD buried out there some where????

[RBSF]

After reading all these posts I feel humbled and very THANKFUL for the track we do have.

I've spent days and days helping our local track, anything I can do, the place has been in operation for 64 years... With SO many pressures on operators, if my support makes him feel just a little bit better about what he's doing, well worth it. It may be about racing, but racing is about people.