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Last Post 07 Sep 2011 05:03 PM by  mazdamike
Gateway in St. Louis, LATEST RUMOR update
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28 Mar 2011 03:35 PM

    FYI, More happenings @ GIR; so far nothing bad,,,,,


    Basic Member
    Basic Member

    30 Aug 2011 11:32 AM
    Still some interest for Gateway International Raceway, Nashville deletes NASCAR.


    Posted on Mon, Aug. 29, 2011
    Possible purchase? Interest revs up for shuttered racetrack

    Parties interested in possibly purchasing the shuttered Gateway International Raceway in Madison have been in contact with at least one attorney representing one of the track's land owners.

    Last week, attorney Bob West, of Paster, West and Kraner in St. Louis, said there is "definitely interest from other parties."

    "The owners are continuing to work with various interested parties in an effort to find a quality buyer to keep the track open," West said.

    West represents Ruth Franke, who is one of the three people who own land where the track is located.

    Gateway International Raceway opened in 1996 and operated until last fall, when owner Dover Motorsports in Delaware closed the track. Dover Motorsports purchased Gateway International Raceway in 1998, the year after the metro-east track held its first NASCAR race.

    Oover time the track failed to lure NASCAR's top-tier races, and declining profits eventually decreased the track's value. Last fall, Dover Motorsports announced that the track would not host any NASCAR events for the 2011 season. Gateway International Raceway was closed soon thereafter.

    Dover Motorsports closed another one of its properties, Memphis Motorsports Park in Millington, Tenn., in October 2009. It was sold last January and has been renamed Memphis International Raceway.

    Earlier this month, Dover Motorsports announced that its Nashville Superspeedway, located in Lebanon, Tenn., will not host any NASCAR events in 2012.
    Basic Member
    Basic Member

    07 Sep 2011 05:03 PM

    The saga continues.


    Johnny Gray in running to purchase St. Louis drag strip

    The Agent confirmed with a source close to both Johnny Gray and the people involved in trying to sell the property and infrastructure of the former Gateway International Raceway that Gray has, indeed, made a serious offer for the track located in Madison, Ill. The offer includes paying off past taxes and debts and even future taxes. Gray said he would spend the necessary money to upgrade the track and keep it running.

    There is another bidder for the track from the St. Louis area, reportedly a lawyer with an interest in opening and maintaining the facility’s road course for SCCA and other road racing series.

    According to the Agent’s source, Gray’s bid for the facility offers considerably less for the actual land the track is on than Chris Pook, who is representing the trio of landowners on whose land the racing facility is built, wants.

    The Agent has talked to several people who claim to know exactly what is going on with the Midwest track, but this explanation seems to make some sense. One thing is positive: If or when the deal is closed, the NHRA has made it very clear that they will award the new owners an NHRA national event. That fact alone probably insures that someone will end up buying the property. Evidently the only snag in the line these days is the price a willing buyer will pay. [09/06/11]

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