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conflicting information on MIR
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ncrdbl1 Offline
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Post: #1
conflicting information on MIR
OK there is conflicting information going round.

We know for certain that the deal to sell Palm Beach International Raceway fell through because of zoning issues.

There are rumors that it's the same company that is buying MIR and they have backed out of both deals.

While the PBIR deal falling apart has been documented in news reports.

There is absolutely no verification on a change in the status of the MIR sale.

Either way IRG has announced regardless of the sale falling apart PBIR is not going reopen. That the land is too valuable as industrial development and they're looking for a new buyer.

Is there any documentation as to the current status of the sale of MIR?




If by chance the deal falls through it could provide a place for events such as next month's Monster Truckz event so they are not held at SLBS.
07-02-2022 12:56 PM
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mempho_to_diego Offline
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RE: conflicting information on MIR
what the hell are you on about ...
07-02-2022 01:24 PM
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EarthBoundMisfit Offline
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RE: conflicting information on MIR
(07-02-2022 01:24 PM)mempho_to_diego Wrote:  what the hell are you on about ...

Memphis International Raceway is for sale...
07-02-2022 02:18 PM
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Cap'n Munford Offline
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Post: #4
RE: conflicting information on MIR
Too many rumors going around to be sure but someone at IRG is keeping it quiet and it helps that none of them are around this area to keep it that way. No one at the track that I talk to know anything either.
07-03-2022 07:13 PM
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ncrdbl1 Offline
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RE: conflicting information on MIR
(07-03-2022 07:13 PM)Capn Munford Wrote:  Too many rumors going around to be sure but someone at IRG is keeping it quiet and it helps that none of them are around this area to keep it that way. No one at the track that I talk to know anything either.

I am assuming that the local Management's bid is no longer on the table since IRG sold off the track equipment.

Consider the effect its closing will have on many aspects of the community, I wonder if the state would consider using eminent domain to acquire the property.

I know right now is a bad time to even consider opening a business.

But the facility is needed in the area.

In previous years the facility pumped over $50 million annually into the economy
(This post was last modified: 07-03-2022 09:37 PM by ncrdbl1.)
07-03-2022 09:32 PM
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Cap'n Munford Offline
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Post: #6
RE: conflicting information on MIR
(07-03-2022 09:32 PM)ncrdbl1 Wrote:  I am assuming that the local Management's bid is no longer on the table since IRG sold off the track equipment.

That ship sailed when Jeff moved to South Carolina as I think he is now the owner of Darlington Dragway. I know IRG did not like it when he went on TV talking about the track closing. Quickly after that, he was told his last day was going to be April 29th. Not sure, but I think he got them back by leaving before the Chevy Show.
07-05-2022 10:24 PM
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ncrdbl1 Offline
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RE: conflicting information on MIR
(07-05-2022 10:24 PM)Capn Munford Wrote:  
(07-03-2022 09:32 PM)ncrdbl1 Wrote:  I am assuming that the local Management's bid is no longer on the table since IRG sold off the track equipment.

That ship sailed when Jeff moved to South Carolina as I think he is now the owner of Darlington Dragway. I know IRG did not like it when he went on TV talking about the track closing. Quickly after that, he was told his last day was going to be April 29th. Not sure, but I think he got them back by leaving before the Chevy Show.

I actually believe the complex can be saved and made a big success. First you need a group inside the racing community who are willing to take on the long term operation of the complex andgroup enough financial backing to cover operational cost for at least 5 years.

Approach the city and propose a long term agreement where the city buys the complex buy issuing bonds, then leases the property to the racers group with the understanding that the group pays the annual interest on the bonds plus a percentage of the net profits each year.

At one time the track pumped $50 million annually into the Memphis economy. I believe it is possible to get both the NHRA and Xfinity series to return to the complex.

Under this deal the city wouldn't be out a single cent from its budget and could see additional dollars coming into the city Treasury.
07-09-2022 03:13 PM
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