Tom R.

Glad I just read this.

I planned on trying to convince she who must be obeyed to move north of nyc.

Now i have to figure out where i want to move.

Geoffrey

Our Region received the following letter:


TO: All Lime Rock Park Renters
FROM: Georgia Blades
DATE: July 10, 2007
RE: The Club at Lime Rock Park

We announced the formation of a new club on Saturday, in a press conference during the ALMS event. The attached document is an interview with Skip that will appear in the next Track Record. I understand at first blush you might be concerned as it means shared days, but it also means drastically reduced rents on those days. Please read Skip’s interview. It points out that this is the only way to really make all of the improvements at Lime Rock that we all want, paving, new bathrooms, etc. and to guarantee the next 50 years. Also, in 5 years, when the Skip Barber Racing School renews their lease, they will take fewer days and some additional time will come back. We also believe some small clubs will leave over the next couple of years. So…short term pain; huge long term gain and Lime Rock Park stays on as a greatly improved race track.

Our plan of sharing time (alternating sessions) won’t impact the calendar, dates won’t move around because of The Club.

I am happy to discuss any questions or concerns you might have about our new endeavor. I will be traveling, leaving Tuesday, July 10, returning Friday, July 20th.
I will be checking my phone messages and e-mails as I am able. I plan to return your calls/e-mails after I return. In the meantime please take a look at the press release on The Club’s website www.limerockclub.com. This site is a work in progress and we will continue to update it with press articles and information as it comes available.

Thank you for your continued support.

Phone: (860) 435-5013
E-Mail: georgia@limerock.com

My opinion is that over time, provided they are successful, things should return to something resembling "normal" with an improved facility. Let's face it, we have all complained about the maintenance of the track facility, the track surface in particular as well as the $750 per event repaving fee. This may be the only financially viable way Skip Barber can afford to improve this facility.

Geoffrey

Here is the one-on-one interview with Skip Barber

One-On-One With Skip Barber
Ensuring the Next 50 Years for Lime Rock Park

Skip Barber, President of Lime Rock Park, has announced his plan for the future of the track. The objective is guaranteeing that Lime Rock remains the premier race course in the Northeast; that the facility is significantly improved without losing any of its charm or character; and that when Skip eventually retires he will bequeath to future custodians a beautiful facility and a viable business. As a huge step towards these goals Skip has created The Club at Lime Rock Park.

TR: What is The Club?
SB: The Club is an opportunity for a limited number of people, 300 maximum, to have significant track time with 60 dates annually to choose from while also enjoying the company of like-minded enthusiasts.

Membership cost: $100,000. Length of membership: 50 years.
Membership can be passed down in the family or resold through The Club.

My biggest fear is that, if the business and finances of Lime Rock Park are not sufficiently strong, the value of this beautiful piece of property could exceed its value as a racetrack and that some future owner will be tempted to convert it to a golf course. Like what happened at Bridgehampton.

TR: Why will The Club ensure Lime Rock Park’s future?
SB: First, we will be signing a lot of 50-year contracts.

Secondly, membership dollars will be used to improve the entire Park. This is a good way to guarantee that all improvements on the “wish list” will happen - everything from repaving the track to new bathrooms, an updated Media Center/Clubhouse and a larger and more efficient entrance, to name a few. The economics of a road racing track by itself won’t pay for this magnitude of improvements. With the infusion of capital supplied by the new Club, my successors will have a first-class facility without having to make significant capital improvements.

TR: When does The Club become active?
SB: The first full season will be 2008. However, there are four dates reserved this Fall for qualified Club applicants to sample the facilities.

TR: How does The Club affect all of Lime Rock’s other users?
SB: The good news is that all the tracks constituents – spectators, amateur racers, professional racers, club members, students and mechanics - will benefit from the improved facilities. Everyone will benefit from the 50-year obligations. Everyone will benefit from the fact that future owners will start with a new, updated facility.

TR: Who Gets Hurt?
SB: We are asking everyone, except the major events, to give up some track time. For some, this is actually a blessing. For example, last Saturday the traditional car club that used the track was only able to generate 20 track users and obviously had great difficulty paying the track rent. Next year that car club would run alternating sessions throughout the day with The Club at Lime Rock. Their rent would be significantly reduced and they would still have more track time then they need.

On the other hand, the large and successful Porsche clubs that currently have to turn away entries may suffer. We are going to do our best to spread the pain fairly, but everyone needs to remember this is THE way to preserve the future.

I think The Club At Lime Rock will be an enormous amount of fun and add a new core group of supporters. The members will obviously provide significant additional business for local merchants without imposing any additional traffic, expenses, or other burden on our community.

TR: How do people find out more information about The Club?
SB: People interested in becoming a member can call 860.435.5005 leave a message with contact information and inquiry and a club representative will be in touch. You can also find information on the Internet at www.limerockclub.com.

ltc

"We also believe some small clubs will leave over the next couple of years..."

What does she mean by 'small clubs'?

mhm993

Well, we'll look forward to Millville, and screw Skippy.

analogmike

"My biggest fear is that, if the business and finances of Lime Rock Park are not sufficiently strong, the value of this beautiful piece of property could exceed its value as a racetrack and that some future owner will be tempted to convert it to a golf course. Like what happened at Bridgehampton."

How the hell much do golfers pay to hit a little ball? They don't mind paying $100K to join the club and $1000 a day? Can you put more golfers on a course than racers? Someone in the know please explain golfing to me, in my area of CT it was $30 a round last time I checked with no initiation fees...

Bull

The answer to "how much" is interesting. For the most exclusive Golf Clubs, with the years of history, there are two answers....first, the memberships can cost several times what Skip is asking for the LR Club...second answer is "nothing" (for the individually named members) when you realize that many are corporate/partnership paid for memberships for their most senior people. I once worked for a company where my boss had Co. paid for memberships on both coasts, and the West Coast membership was $300k up front. He didn't spend a cent..all expenses covered, it came with the position. Of course he never had time to play! I don't know if their is demand for similar perks for corp/partnership/entrepreneurs in the track-time market, but I can't think of a better market in which to find out.

The Public Golf Course crowd is in an entirely different Universe...

Come on Thunderbird!

RonCT

Golf is on such a decline that many courses are going out of business and / or are being turned into housing developments. It's more likely the track if it went out of business would be turned back into residential land, but then again, there aren't many people moving in droves out to Lime Rock, CT. The whole region up there is beautiful for sure, but not a "hot" real estate market.

There is so much talk from so many sources already on this situation. I think most that would consider joining are going to want performance before turning over a substantial fee. Everyone out there knows about the "repaving surcharge" and I'm sure Wall Street attorneys reviewing the documents for hedge fund super car owning managers are going to make sure there's no risk. So, it could be a while...

As to small clubs, I'd say that bodes well for PCA and BMWCCA -- both serious groups with serious instructional programs and club racing. I cannot believe any of this will translate into lower track rental fees. Also, I find it incredibly hard to believe that a $110k member is going to share the track on the same day with smaller clubs, ever. Not only will they find it hard to share a date with "outsiders", but I will bet they will have a hard time sharing the facility with outside clubs. They may not have a say, but look at your local private golf country clubs and ask how they feel about public play, charity tournaments that bring in outside golfers, etc.

Gary R.

Only way I would consider joining (trust me i'm not) would be if Skip dipped into his own pocket up front and got the ball rolling with repaving and all the other "coming soon" promises. He could loan the club the money and recoup his losses with interest once things mature.

Bull

I am fairly certain that 90% of us are not in the target market, and therefor cause little concern.

Veloce Raptor

This has scam written all over it.

Bull

Veloce Raptor

I am serious. There is no imminent threat from developers of that remote part of Connecticut. Seems as if maybe Skippy just needs some money, and he figured that there may be a bunch of suckas nearby who will give it to him on a "promise" of future improvements.

cr207

i think he sees what drive and race is getting and wants in on the action. bu tI find it hard to believe that with the 20k a day for track rental and other revenue from races they can't improve the track. 60 days generates 1.2 million and i'm sure the races generate at least that and skip barber should be at least 500k for track time. So why is he crying?

Veloce Raptor

He is crying because he wants a larger yacht, and he is out of money.