Saving the speedway
A few months ago, I stumbled on a group of people who were trying to save North Wilkesboro Speedway. I blogged about it in April, but there wasn't much to say because, well, it didn't look like this effort was going anywhere fast.
I'll admit it: I misjudged the whole thing.
The Winston-Salem paper has the latest on the project (reg. req.), which is about 10 giant steps farther along than it was in April. The group's online petition, which got nearly 4,600 signatures, has been replaced by concept art.
The main stumbling block, of course, is money: SavetheSpeedway.net doesn't have it, and Bruton Smith said he and co-owner Bob Bahre will let them have it for $12 million (!).
Let that sink in for a minute.
They want $12 million for a beat-all-to-hell track that will never again see a Cup race and won't host any sort of racing until they decide to sell or lease it.
For Smith and Bahre, the $12 million would be a loss because they paid $14 million way back when. But it's not like either guy bought North Wilkesboro so they could use it. They bought it so they could move its race dates here and here, remember?
Both men have made their money back and then some. By asking for $12 million for a crumbling old North Wilkesboro that's worth less than half that, they just look cheap.
The Diecast Dude reminded us last week that blogging is (or should be) more than just self-promotion. If you're looking for an online racin' cause, well, here you go.
Comments (2)
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I noted and posted both the N. Wilkesboro story and also that Iowa Speedway may have been saved from a premature end after finding a local financial backer that actually has the cash.
Both are "good news" stories, but. I take the resurrection of N. Wilkesboro with a large grain of salt. And that's not to say I hope their efforts fail. I just have reservations about the possibilities.
Mostly because of the lack of any indication there is cash flowing in the direction of the Save the Speedway organization. And frankly 4600 signatures isn't a whole lot of support. And well, any aspiring artist can be persuaded to produce "concept art."
On the plus side I would call your characterization of the tracks current condition of a, "beat-all-to-hell track, a little over the top. A quick look at the photo gallery onsite shows it is in remarkable shape after 9 years of inactivity.
Here is something to think about. What is the most common things that lead to any race track being bulldozed out of existence? Strip malls, industrial parks and housing are the most common.
So why hasn't that happened in N. Wilkesboro's case? There it stands and with a little lovin' and cash can be brought back to life.
The fact it remains tells me Smith and Bahre haven't gotten offers to sell. Surely if the area was ripe for any of the afore mentioned projects the $12 mil they ask would have been exceeded by someone.
That hasn't happened and you can bet the track is more valuable as a race track than any other project. At least for now.
Posted on December 13, 2005 6:49 PM
Marc: The reason Smith & Bahre haven't gotten any offers to sell North Wilkesboro is the same reason the Cup boys don't race there any more: the place is in the middle of nowhere.
Wait, I take that back: North Wilkesboro is roughly equidistant from Boone, Lenoir and Yadkinville.
In other words, there's zero commercial interest in the property, which is why the race track is still there.
Besides, land's cheap up there. There are plenty of textile mill owners who will sell their old plants for less than $200K+ per acre.
My point: Might as well let someone race up there, and leasing the place to someone will at least cover the annual tax bill.
Posted on December 14, 2005 11:03 AM