GIR Leased set to re-open

[hemiman4262003]

another reason mar needs to open

[9seccobra]

Sept 23, 2011 4:33:01 GMT -5 slingshot383 said:

There was an article in yesterday's www.stltoday.com talking about a possible snag to the purchase of the facility. Different from the lease that was signed, the same group is working on getting finances together to buy the facility - a long term fix to the multiple owners of the grounds, and just leasing rights to use. We'll have to see how this develops.

Here is the article...

www.stltoday.com/suburban-journals/illinois/news/article_c8bb1999-fe4b-548c-8ecb-c2a958eb9605.html

[miamiman]

if you were to open gateway tomarrow what would the first 10 things you would do?

[gdog]

I wouldn't

[gdog]

Illinois is in such bad financial shape they can not afford to assist the soapbox derby much less New GIR owners to finance that pig in a poke. Chris Pook has that place financially fuggered up until mid century and Illinois (as much as they like to piss money down a rat hole) can't afford (or will not afford) to fund this loser.

[gdog]

I know I am accused of hating the swamp which is and is not true some of the better times of my life occurred there but facts need to be faced GIR was funded badly taxed badly TIFFED badly and run into the ground by two sets of horrible management during and after the reconstruction nobody all of a sudden remembers that Chris Pook was the first JO who financed the place on the GOVT. tab than mismanaged it into the shithole it is now than dumped it on Dover who than took it even further into the(swamp) than it ever was before.Only a fool would try to resurrect the place without someone else (the GOVT.)footing the tab and it just dawned on them they might have to foot the tab themselves and they ain't no fools.

[nutup]

Well this sounds like a perfect deal for the government it's the normal day too day for the feds

[bud SE/JF 5821]

I am sorry to hear of such a bad opinion of the facility operation, I haft to travel a minimum of 100 miles just to get the opportunity to put my car on the track, If what you are saying is fact then mabe I should Reconsider going to this Facility.
Thank You Bud

[sg3526]

OK we need to quit freaking out. From what I understand the guy has the pockets to get the deal done. The "issues" that they are trying to get worked out with the local governments are the taxes and what they are going to have to pay. Everyone relax and take a deep breath.

[crossbonesdennis]

Bud, he's talking about the past not about the new owner.

[bud SE/JF 5821]

aw : OK thanks, I am not really familiar with these tracks here in Missouri (Midwest) or there management operations, Bur the west coast is where I am most familiar with as that is where I had been racing at from 1959 to 2001 when I moved here.
Thanks Bud

[gdog]

I am absolutely talking about the past but also the future the past owners have left the swamp in financial shambles and Curtis Francois is not an idiot. I hope you are correct and he just wants a racetrack so badly he is willing to finance the project on his own dime but their statement that they are"trying to put together a package that puts the track on firm financial footing for the future" tells me he ain't doing this on his own dime.

[sg3526]

Firm financial footing in my opinion means restructuring the tax base on the facility. As it sits right now the tax issue will eat it alive like it did to the prior owners. I hope they can get it worked out so we all have a place to race..

[gdog]

Having been in business for more than 25 years firm financial footing to me means a total package of financing that gives me the most return on my investment with the least risk to my personal finances and any businessman who doesn't think that way doesn't get to this mans position in life.

[slingshot383]

Another thing you have to remember, he is a road racer, not a drag racer. His vision is to bring the Rolex series here to St. Louis, have a heavy priority to SCCA and GTP and GTA type racing. A lot of the tax base was based on number of seats available. I would look to see some of the grandstands around the oval track reduced. Of course, one will just have to wait and see what really happens. Right now the thing to do is support him in reopening the track and support Ronnie and crew with their project so that we have 2 tracks within 90 minutes of each other.