quote:

Originally posted by adv ET 266:
https://www.wpbf.com/article/p...ave-raceway/37409769

Hopefully Al Guibord has deeper pockets than the warehouse developers.

I read where he offered $55million and is in second place to the warehouse offer...also, I did a quick search and cannot find anywhere that Formula One has anything to do with drag strips...they seem to be 100% road course/racing...hmmmm...

quote:

Originally posted by fuzzy dice:
I read where he offered $55million and is in second place to the warehouse offer...also, I did a quick search and cannot find anywhere that Formula One has anything to do with drag strips...they seem to be 100% road course/racing...hmmmm...

Well I’d rather support someone that’s definitely into motorsports than a developer that wants to put warehouses on the property.

$55 million? I absolutely believe that the track is for sale, and will likely be sold, but $55 million? Assuming 200 acres, that's $275,000 per acre for undeveloped land a long ways from anything. And basically in a swamp.

If an investor wanted an 8% return on his investment (which is a pretty low expectation) he would have to make ($55,000,000 x 8%) = $4.4 million per year in profit, after taxes & operating costs.

Is anybody gonna clear $4.4 million a year running a drag strip?

HAHAHAHAHAHAHAHAHAHA

quote:

Originally posted by SlyFox:
$55 million? I absolutely believe that the track is for sale, and will likely be sold, but $55 million? Assuming 200 acres, that's $275,000 per acre for undeveloped land a long ways from anything. And basically in a swamp.

I agree with you but 55 mil is what the formula one owner reported as the amount of his offer...makes no sense to me, btw...

The rumored sale price for Atlanta Dragway (which sold earlier this year, and is a larger piece of property I believe) was $6 million.

Moroso Investment Partners LLC appears to own 6 parcels with about 6 million dollars tax value. Doesn't look like more than 140 acres total. Palm Beach County owns a lot of property around the track.

Again, I completely believe the track is for sale, and may be sold, but lots of questions, including;

1) $55 million? Really?
2) Who leaked this to the Palm Beach Post, and why?

So its 149 acres. 369k per acre at 55 million. The highest bidder is above 55 mil. I'm not an expert on commercial property but that's just insane. Then you have to flatten the place to build it out. Seems to me if your buying multiple acres you should get a better price per acre.

They could give 2 s hits about the price. Amazon purchased 133 acres in Sunrise for....85 million. Property, nothing else. And probably another 50 mil to clear and build a building and parking lots.
Making money hand over fist, 100 mil is a drop in the bucker for Walmart.

Just saw on local news that singer Pit Bull and possibly Danny Sullivan may try to collaborate on saving PBIR and turning into a (race) tourist destination... If so, that would be great if it comes about!!

The dollars being talked about are staggering.

Bucky, your talking about real estate here in south Florida. Property values have skyrocketed in the past three years. It appears that most folks moving here are from high tax north eastern states. Plus our economy is booming.

Don't take much thinking to abandon NY for FL. Lets just hope they leave their liberal ideas behind.

quote:

Originally posted by ferndaleflyer:
Don't take much thinking to abandon NY for FL. Lets just hope they leave their liberal ideas behind.

They usually don't.

Something I was pondering last night is how it was accepted when our country began. Does anyone think most Americans were in favor of sticking their finger in the eye of the British? At that time the greatest military force in the world. I doubt it. It was a small number of wolves. Patriots. And yes the rest of the sheep in a lot of cases were dragged into the conflict that ensued. But ALL Americans then benefitted from the freedoms that we gained and the government that we created by the hands of some forward thinking people who had already encountered what they considered tyranny.

Fast forward to today. I wonder how revolution would or could go today. Would it be a small group of wolves....patriots who get the ball rolling? Are the sheep more prone to simply stay compliant and would never join the fight?

One thing is for certain: A small group would probably do the work and make the sacrifices that the masses would benefit from. And those same masses would eventually take for granted what they have and would let it slide into the hands of tyranny again.

But with a government controlling what they do, and technology what it is.....is it even possible now?

It appears Portman Holdings has a contract on the purchase of PBIR, states sellers cannot entertain any other offers.

Was on local news also that this will be last year of winter series due to sale in 2022
https://www.palmbeachtimes.com...l-raceway-memo-shows

Well that sucks.

quote:

Originally posted by fuzzy dice:
I was just told and confirmed it that Jeff Miles, the track manager at Memphis will be taking over at PBIR on Nov. 1st...Jeff is a very experienced manager...he ran Carolina dragway for 17 years and ran Orlando and SGMP before going to Memphis...

This does not seem to square with the track being sold and redeveloped....hmmmmmm...

Nothing reported to date confirms any contract for sale to anyone...this is not to say it is not in the works but what we actually know does not support a sale at this point...

October 6 at 12:12 AM ·
Just in case you missed it last week, and for all the ones out there that were concerned about us. Memphis International Raceway will be here ready to rock in 2022. April brings the Memphis Chevy Show, Team Memphis brackets start with all 2 day events, big money brackets all year, Donkmaster, pro mods, radial racing, grudge racing, midnight madness, drift events, and so much more. This will be the place to race in 2022 and beyond.

Jeff Miles


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