NJ Motor Sports Park Offered for Sale in Bankruptcy
 

Millville NJ Motor Sports Park offered for sale in Chapter 11 case. Minimum qualifying bid is $23M. I have the teaser and basic financials from the investment banker if anyone is interested. Qualifying bids are due June 29th.

Serious inquiries only, please.

http://www.njmp.com/index.php

OK, someone has to say it: GROUP BUY?

I'm in for $500. ;)

So my early morning fuzzy math when I saw this on the 993 Forum, was even if you got it at the $23M minimum bid:

50% equity, market rate interest only debt service gives you a $60K nut just for that. So that means you need to gross $200K/mo. for the maybe 10 months you can operate a track in that climate?

Or maybe the handful of pro events each year cover the basic operations, and the track rentals to groups like us make up the profit. But that still figures you've got $10+M laying around to tie up. Which isn't me.

You know, this bankruptcy was predictable as rain as is the next reorganization.

Would this track be better off with 1/2 of it being a private club track like Monticello, cost of running two tracks must be expensive.

Would we be entitled to "compensating track time"?

Follow the Summit Point business model. Get the US Government to subsidize the tracks by winning big fat government contracts to provide security training.

It is NJ so maybe offer performance driving classes to organized crime families using fleets of Cadillac limos and Lincoln Town Cars? You could even have dedicated facilities like the Genovese Family Garage; or offer "don't ask, don't tell" access to soft marshy areas.

(PS: I'm NY Italian so I have unrestricted license to dish out mob abuse.)

El em ef ay oh !!!!!!!!!

Are you sure? They know where your family lives. :icon107:

The food would certainly improve,..... or else ;)

Women would improve as well. They would have a pit girl giving you a special rub down after every session - at extra cost of course.

Scrutineers would be rough, but easily bribed.

http://www.washingtonpost.com/wp-srv...y/sopranos.jpg

I'd like to see Big Pussy at more races.