Quote:
Originally Posted by 57years
How much state (taxpayer) money to build infrastructure, manage crowds, back bonds..etc. is going to be lost?
|
Unlike General Motors and Chrysler it doesn't appear the tax payers will lose a single dime on this deal.
I was initially thinking the auction for the race track must be due to bankruptcy or foreclosure but based on a news report I just watched it appears the current owner just wants to go a different direction and decided to sell the track. For a link to the local TV News Report -
click here
I'd love to see the Financial Statement for a race track. I'm betting the largest expense, by far, would be debt service and property taxes on the land/facility. Insurance would likely be expensive, but I get the impression that labor costs would be manageable because there's a pool of people who would be willing to work for cheap/free just to be part of the racing experience.
I doubt a race track owner could generate much revenue by hosting the Friday Night Drags, but as Jayhawk mentioned above I bet there is some money that could be earned by renting the track out on weekends to the Viper Club, Corvette Club, BMW group, etc.