Highland Rim Speedway - just outside of Nashville TN - was sold at a foreclosure auction yesterday. The sale comes just a couple of weeks after track owner Bobby Hamilton Jr. filed bankruptcy.
Link: http://www.tennessean.com/article/20120203/ROBERTSON01/302030122/Highland-Rim-Speedway-sold-foreclosure-auction
Highland Rim Speedway was sold in a foreclosure auction on the steps of the county courthouse in Springfield on Friday, Feb. 3.
The two tracts of land that make up the speedway were purchased by Community Bank and Trust for $605,000. It was the sole bid. The lands auctioned amounted to approximately 30 acres of land.
The speedway was preparing for its 50th season of racing, according to longtime track announcer Lanny Adams, of Nashville. The season was scheduled to start on March 17. Whether that will happen is now unclear, Adams said.
Im more concerned about the racetrack and it getting bulldozed today, Adams said.
Equipment and other such items on the property will be sold separately from the real estate, according to Becky Haack, portfolio manager for the Mid-Cumberland Area Development Corporation, which held a mortgage on the property.
Bernie Frederick and his son, Dell, said they attended the sale because they want to know what will become of the race track. Bernie Frederick said he has five children and three of them have raced at Highland Rim.
Its a good place to race, Bernie Frederick said. Its a good place to learn how to drive.
Jerry Criswell, who owns Greenbrier-based Aluminum Racing Products, said the closure of the track could impact his business.
Anytime someone doesnt keep it operating as a race track, its going to affect my business, he said.
Criswells business builds stock car bodies that are sold across the country. Twenty people are employed by his company, which has been in operation since 1982.
We hope and pray someone keeps it going as a racing facility, Criswell said.
Check back for more information as it becomes available.
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updated by @tmc-chase: 12/05/16 04:09:31PM