National Trail Raceway

[Mike Fuller]

The division three schedule shows the two events scheduled for July 9-12
on their event calendar. NTR website also has the event listed as a NHRA meet. IHRA also shows their events there at the same date. Does anyone have any insight as to what is going on there?

[MR DERBY CITY]

Originally Posted by Mike Fuller

The division three schedule shows the two events scheduled for July 9-12
on their event calendar. NTR website also has the event listed as a NHRA meet. IHRA also shows their events there at the same date. Does anyone have any insight as to what is going on there?

Nope, AND NTR does not know either …..

[1347]

Originally Posted by MR DERBY CITY

Nope, AND NTR does not know either ?..

NTR does not know what, why IHRA has a race scheduled on their track that day? Or why NHRA has not removed the race from the schedule? I believe NTR raceway knows something. After multiple tracks saying they weren't bought by IHRA, 2 have announced they were now bought, and Milan has said it's in Lawyer review but once it's complete they are going to run as an NHRA track for the rest of the year even thought they will he owned by IHRA, with all Milan staff in place for the year.
I wonder if NTR will do the same if IHRA completes the purchase. I never heard a statement from NTR saying they were or were not being bought. Does that mean they are still in litigation too?

[MR DERBY CITY]

Originally Posted by 1347

NTR does not know what, why IHRA has a race scheduled on their track that day? Or why NHRA has not removed the race from the schedule? I believe NTR raceway knows something. After multiple tracks saying they weren't bought by IHRA, 2 have announced they were now bought, and Milan has said it's in Lawyer review but once it's complete they are going to run as an NHRA track for the rest of the year even thought they will he owned by IHRA, with all Milan staff in place for the year.
I wonder if NTR will do the same if IHRA completes the purchase. I never heard a statement from NTR saying they were or were not being bought. Does that mean they are still in litigation too?

Appears that IHRA is working with smoke and mirrors. Initially they said they have acquired 7 tracks. Evidently they have purchased Galot BUT Galot will remain under WDRA section this year. According to IHRA the purchase of Milan is under review from the attorneys? I do wish IHRA is successful as I believe NHRA needs some competition ….

[JP1738]

It's not smoke and mirrors. Did you read the Competition Plus article written after all the confusion came about initially with the purchase of the tracks? They are going to buy the 7 tracks listed, but the process takes time and lots of paper work. There may be a few of the tracks originally listed that don't end up getting bought though, but not because IHRA can't. I've heard some of them are leaned way out and are almost not worth buying because of how much leverage that is against them financially. This kind of information does not come out until the discovery process when IHRA and it's lawyers are permitted to go through all the finances and records of these businesses.

[J.R. Haddad]

You know it's interesting that there is different approaches to buying
commercial Real Estate, I guess. I have bought a fair amount of commercial
property's, along with multi family units, and of course my own personal
homes. I have always known how much paper(mortgages, liens, fines,
penalty's etc.) are against a property before I decide if I'm making an offer.
If I buy it it, and the amounts against the title are more than the property
is worth, I want to know right now how they intend to handle it. I'm not
getting a surprise at the closing where they think I will pay more and
handle their obligations. Could there ever be a surprise, of course, but
it's very, very rare, and I would blame myself for allowing that to happen.

J.R.

[Bandit 1]

Time will tell on all of this. Think the only thing we all know is that nothing is set in stone by either party. Would imagine the legal counsel involved is recommending different approaches. Reminds me of a Mexican Standoff that doesn't end well.

[MikeMoller]

I have real concerns about this new IHRA making announcements that ?suggest? they are purchasing tracks without firm commitments from these tracks. Doesn?t do much for credibility in my opinion.

[GTX JOHN]

In most states (Not All) that I have bought property in shortly after
an Offer and Acceptance, an Escrow is started. A Preliminary
Title Report is submitted to the prospective purchaser for approval
very early in the process.

This document shows the liens against the property (among other
disclosures). This information would be available to the prospective
buyer early in the process.

[ken robinson]

I wonder if IHRA would be willing to buy back Atco ?