ST Louis is closing

http://www.gatewayraceway.com/


This is a repost from Yellow Bullet. Everyone knows Bret and he should know what he is talking about.

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A message from Bret Kepner taken from our local board lethal1320.com Here is the thread the post originated. http://www.lethal1320.com/forums/index.php?topic=4753.0

Bret writes:

I’m only responding to this thread because the article in Drag Racing Online is so incredibly wrong. I’m only going to type this once and I’m not going to respond with any more information. The reason for the lack of interest in a sale of Gateway International Raceway is no secret. There are several people on this board who know the details, (‘Goose being one with whom I’ve shared the basics), and, for the life of me, I have no idea why you people think this is such a conspiracy.

The reason nobody is interested in GIR has nothing to do with the economy, the management, the oval track or the dragstrip. In fact, the dragstrip is, (currently), one of the most successful in the country. Tuesday nights are doing great, Fridays (MM) are through the roof, and, despite the fact bracket racing has been in a horrible slump for a decade, even the Saturday bracket series holds its own quite well. Even the Outlaw All Stars program has shown notable growth. The majority of GIR’s major events are rentals so those races are fine, too. The NHRA National Event does very well for both GIR and the NHRA. However, it wouldn’t matter if the track was ten times more successful. It simply can’t possibly make money.

Chris Pook built the new Gateway in 1996 with $21.5 million in Illinois state bonds. Those bonds were deferred for ten years. Those bonds came due in 2006. For the past four years, GIR has been operating with an annual tax debt of $1.8 million. End of story.

Nothing…not even a NASCAR Cup date…could ever pull the track out from under that load. When it became obvious the track was never going to get a Cup race, Pook (wisely) got out. He knew an NHRA race, a NASCAR truck race, a Nationwide race or even his own CART events wouldn’t do it, either. As it stands, (with no major events at the oval), a new owner would need the equivalent of five good NHRA National Events in one season just to start at ZERO.

NOW start figuring out who’d say “Yes!” to such a deal. Can’t think of ANYBODY? Gee. I guess that explains why nobody’s in line to buy it.

If the tax nightmare could ever be figured out, THEN a prospective buyer could start looking into a way to deal with the three land owners and all the rest of the headaches involved in acquiring Gateway International Raceway.

I don’t care what anybody has heard, said, thought or read. These are the facts. If you don’t believe it, call Dover and ask.

There will always be hilarious rumors out there and, personally, I hope they keep coming just for the entertainment value. However, all the idiots who insist the track is closing because they wait in line for a run at Midnight Madness or the NHRA event was pulled because of racer complaints, (my favorite so far), need to get a clue about the business world.

None of this was ever a secret. All you had to do was ask. Get a grip, people.

I’m not posting this anywhere else. If you find somebody who’s spewing inaccuracies, feel free to cut-n-paste this whole response. The funny part is they’ll still believe the whole place went under because it wasn’t an “outlaw track

Definitely sucks. Closest track is now 3 hours away. Maybe the state of Illinois should run it. They sponsor a lot of tractor pulls and such. Why not generate some type of income from it. They won't get any of their money back leaving it sit there.

512Fairlane wrote:Definitely sucks. Closest track is now 3 hours away. Maybe the state of Illinois should run it. They sponsor a lot of tractor pulls and such. Why not generate some type of income from it. They won't get any of their money back leaving it sit there.

smart idea! the state should run it!

'65 T-BOLT wrote:smart idea! the state should run it!

Yeah, like the government couldn't screw it up anymore than it already is.
Thats one of the biggest problems with American today is the government involvement in our personal life.

Curt wrote:

'65 T-BOLT wrote:smart idea! the state should run it!

Yeah, like the government couldn't screw it up anymore than it already is.
Thats one of the biggest problems with American today is the government involvement in our personal life.

Its not "Green" though.....

Yeah, florescent blubs are an enviormnental catastrophe compared to incandescent light bulbs, but DC decided they know what is best for my house.

I mean you choose, mercury or warmth. I like it a little hotter.

deleted because it aint worth it

Mercury poisoning of Chinese factory workers
In the past decade, hundreds of Chinese factory workers who manufacture CFLs for export to first world countries were being poisoned and hospitalized because of mercury exposure. Examples include workers at the Nanhai Feiyang lighting factory in Foshan city where 68 out of 72 were so badly poisoned that they required hospitalization. At another CFL factory in Jinzhou, 121 out of 123 employees were found to have excessive mercury levels with one employee's mercury level 150 times the accepted standard

China.... they may be kicking a$$ now with their manufacturing at basement prices but they are turning their country into a wasteland. Give it a generation or two. Satelite imagery will jusy show a big black smudge whith a brown fog over it where that country is.

again deleted

The fact is, that is where our bulbs are being manufactured. It doesnt matter to me if they are Chinese or any other race. The cost doesnt go down just because it was a life and not because it reduced green house gas (if there is such a thing) . If you want to lessen co2, then just quit breathing out. You will no longer have to worry about it.

The church of Global Warming needs to take a history lesson!

My tunnel ram looks Awesome with the Birdcatcher on it!!!

56Tbird wrote:My tunnel ram looks Awesome with the Birdcatcher on it!!!

LOL....What's with this place lately..

DFI429 wrote:

56Tbird wrote:My tunnel ram looks Awesome with the Birdcatcher on it!!!

LOL....What's with this place lately..

he was changing the subject to avoid yet another political/earthly debate.....does no one understand sarcasm lately

Sorry, the post started out saying the government should take over a business that can't find a way to be profitable. Kind of like all of the goventment business'.

Guess they would be the perfect owners.

Curt wrote:Sorry, the post started out saying the government should take over a business that can't find a way to be profitable. Kind of like all of the goventment business'.

Guess they would be the perfect owners.

I believe you understand komrade.....

56Tbird wrote:My tunnel ram looks Awesome with the Birdcatcher on it!!!

Got er on Let's see it

Okay back to the regular scheduled bs er... I mean thread

Feel like Fabio "the hi-jacker"

frank13 wrote:.....does no one understand sarcasm lately

Do you?

I was simply referring to the threads that have been going off on tangents lately... hence the de-rail pic

bigblockfox468 wrote:

56Tbird wrote:My tunnel ram looks Awesome with the Birdcatcher on it!!!

Got er on Let's see it

Okay back to the regular scheduled bs er... I mean thread

Feel like Fabio "the hi-jacker"

I just saved a bunch of money on my car insurance..........My HeRo engine is awesome...........

Right you are Jon Boy ,BUT does that car insurance cover that HeRo engine for 100,000 miles or 500 passes ...which ever comes 1st???

Good morning Dan, what's up "Amigo"?

Good Morning Brother Harold

The Three Amigo's