NJ Motorsports Park files for bankruptcy

[Acura NsX Pilot]

http://www.nj.com/sports/index.ssf/2011/03/owners_of_motorsports_park_rac.html

MILLVILLE — Owners of a southern New Jersey auto racing facility say they have filed for bankruptcy so they can restructure debt.

New Jersey Motorsports Park owner Lee Brahin said in a press release Monday that the Chapter 11 filing will allow the facility to continue to operate.

Brahin said the move includes renegotiating debt with a primary lender and addition of new equity.

General manager Brad Scott told The Daily Journal of Vineland that the filing will not affect the track's 2011 racing schedule.

The 700-acre facility in Millville, Cumberland County includes two road racing courses, a karting track and a club for auto racing enthusiasts. It opened in 2008.

 

[NSXRguy]

we should have a nsx go kart day!!!

 

[ftuhy]

So, I take it that if the restructuring goes well, this should not affect NSXPO2011's Sept 26 & 27 track event there?

 

[Pooh]

Frank,
From our communications with the track we don't expect to have any issues with our September track event since this is a re-org/re-structuring for the track. Other tracks have gone through this recently as well and though all of them didn't make it out of their re-org, others did just fine.

We will of course keep monitoring the situation as I'm sure other clubs will be doing as well and take whatever measures we can to insure another successful track event for NSXPO.

I hope we will see you sign up for the track this year!

 

[ftuhy]

Frank,

I hope we will see you sign up for the track this year!

Will do, but not immediately. I'm also waiting to hear from a certain person about what help is needed.:biggrin: