Geoffrey

NEWS RELEASE FOR IMMEDIATE RELEASE***************************
THE CLUB AT LIME ROCK PARK INTRODUCES
ASSOCIATE MEMBERSHIPS
*
For Those That Love the Idea but Need an Alternative Solution
*
Lakeville, CT (20 March 2008) – Track President, Skip Barber, and board members of The Club at Lime Rock Park have unveiled Phase Two of The Club memberships, an alternative solution for prospective members.* To date, a full Founding Membership has been the only option available at $110,000 ($100,000 initiation fee plus $10,000 Connecticut Dues Tax).* However, for those that love the idea but want another financial option, they can now become an Associate Member - a ten-year membership that allows drivers ten track dates per season, as well as several Club amenities.* The $27,500 ($25,000 initiation fee plus $2,500 Dues Tax) Associate Membership can be re-sold or credited
at any time towards a full Membership.
*
“Many potential members have told us they really want to join the Club but can’t make a large outlay now,” states Barber. “The Associate Membership allows them to start in a modest way, still getting a lot of track time and then upgrading their membership when they’re able.”*Membership Information and

Benefits:
Full Founding Member Associate Member*******
Initiation Fee + CT Dues Tax* *$110,000********* ********************* $27,500
Term of membership************ 50 years********************** ******** 10 years
Track Time (per year/per member)*** 60 of 60dates************** 10 of 60 dates
Qualified Driver Guests*********** Unlimited with fee****************** None
Non-Driver Guests** Unlimited******************************** Unlimited
Tickets to Lime Rock Park Public Events***** 4 VIP*************************************** 2 VIP
Clubhouse Access****** Yes***************************************** Yes
Vehicle Storage************** Yes***************************************** Yes
*
*
Club Member, Matt Meehan – who also serves on the Member Board – notes, “I’ve spoken with many prospective members who would love the Club at Lime Rock Park experience, but need another option to a full Founding Membership.* I believe this new Associate Membership addresses their need.”
*
To date, The Club at Lime Rock Park has 118 member commitments.* Revenue from memberships is being used to fund a series of track improvements, which include additional new course options, while at the same time preserving its classic footprint by smoothing the surface and improving safety.* Lime Rock Park is scheduled to break ground on track upgrades this spring and re-pave the road course in June.
*
The Club at Lime Rock Park (www.limerockclub.com) is an exclusive,
members-only motorsports club for automotive enthusiasts.* The Club
caters to drivers of high-performance vehicles who use the track for
pleasure as well as business.
*
Lime Rock Park is nestled comfortably in the lush green foothills of
the Berkshire Mountains and is widely recognized as one of the most
beautiful and historic road racing facilities in North America.* A
perfect setting for a motorsports club, Lime Rock Park has the only
club currently open in the Northeast.
*
For more information, please contact Scott Tranchemontagne or Deb
Daigle at 603.644.3200, or visit www.limerockclub.com.

ltc

So for $27,500 I get 10 track days/year for 10 years......thanks, but I'll pass.

DrJupeman

This seems to confirm that we will still be able to run "old" Lime Rock: "which include additional new course options, while at the same time preserving its classic footprint by smoothing the surface and improving safety."

I also love this quote: "The Associate Membership allows them to start in a modest way" - um, $27.5k is modest?

RonCT

Interesting news... I know when I was talking with them initially, there was pressure to act quickly because by Fall 2007 the 300 subscriptions would probably be sold out. Looks stalled at 100. I wonder how those that paid $110k and only wanted 10 days a year feel and if they can downgrade.

To lock in at $275 a day for 10 years isn't that bad a deal considering some car clubs charge almost $300 a day now and I can't imagine it's going to get any cheaper in 3, 5, 9 years from now...

chrisp

At 7.2% that $27,500 will double in 10 yrs. Need to think in terms of future value, NPV, and opportunity cost.

weston98

only if you ignore taxes and invest in highly risky stuff...

Lawrence_P

Nah uh. It's plus $275/mo in dues.

RonCT

I didn't mean to turn this into a financial analysis... But I can say this about what I've paid with BMWCCA over the years... My first event about 5 years ago was $150, which went up to $175, then $195... and on up to $285 now 5 years later. So that's a 90% increase in 5 years or 18% a year average.

ZAPmobile

I guess PT Barnum is alive and well!! I wonder where all the money the various regions paid for resurfacing went?

gums

But if you bought or leased a new BMW during that time the club membership also refunds you $1000.