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Topic: Badlands.....and the winner is?
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Page 2 of 2 of 28 replies
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September 17, 2018 at
02:34:44 PM
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3594
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Reply to:
Posted By: Sonicman1 on September 17 2018 at 02:17:36 PM
http://www.badlandsmotorspeedway.com/
If anyone is interested. This guy sounds like a poker player. Telling the truth, in part, but also mixed with lies. I am inclined to think he is telling the truth on the bidding process, but not on the value of the track (9 million like he wants).
Why would he not accept an offer of what the minimum bid was? Unless he is trying behind the scenes to open it himself once again for just some big shows that make the most money.
Also, I am inclined to think that lot of what happened Saturday for track not being sold is on the bidders. Who puts up that kind of money for a deposit to show interest, then shows up to an auction and doesnt make the minimum bid? They all knew the min....so why show up thinking you would get it for less to open up the auction? Unless there is a lie about the auction? I dont see how CB could lie about the nubmer of bidders....somebody knows somebody who would talk about that process. Is it possible there were ZERO bidders? And this was just a show? I doubt it.
You cant always blame this guy....most times....but not in this case IMO. Bidders showed up to bid then didnt and that is what I believe until somebody has good evidence otherwise
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Something doesn't seem to be quite right with the way this story is being told. You're telling me that three qualified bidders were present, knowing full well what the opening bid was, yet none of the three would start bidding? There's got to be more to the story than that.
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September 17, 2018 at
03:23:21 PM
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12/02/2004
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123
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copied from a friends page:
Dave Lunstra
Husets Speedway was up for auction last Saturday. I was one of only 3 people to send the deposit in to get a bidding number. 2 bidders were on site(one of which was me) and one bidder was online. There was no “game of chicken” at the auction. Many times at an auction if they don’t get the opening bid they lower it to get the bids going, which truthfully is what needed to happen to make the investment make sense. Keep in mind...people that have millions to invest didn’t get it by being stupid, which,if I had to guess, is why it hasn’t sold yet. Also the costs don’t stop there. Winning bidder had to pay a 4% buyers fee($40,000/mill) which unfortunately is common in most auctions these days. I myself did not make any Crazy low ball offers after the auction. I simply turned my phone off and thought about the future of our beloved race track. I felt it only right to post this because of all the gossip that flys around when many details are not available. My passion for racing runs very deep and the current price of the track pretty much guaranties that local racing is over (hope I’m wrong)! Let’s just hope something positive happens in the near future so we can start making more memories at our local track!
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September 17, 2018 at
08:55:20 PM
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Joined:
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05/03/2007
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1671
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Reply to:
Posted By: Sonicman1 on September 17 2018 at 02:17:36 PM
http://www.badlandsmotorspeedway.com/
If anyone is interested. This guy sounds like a poker player. Telling the truth, in part, but also mixed with lies. I am inclined to think he is telling the truth on the bidding process, but not on the value of the track (9 million like he wants).
Why would he not accept an offer of what the minimum bid was? Unless he is trying behind the scenes to open it himself once again for just some big shows that make the most money.
Also, I am inclined to think that lot of what happened Saturday for track not being sold is on the bidders. Who puts up that kind of money for a deposit to show interest, then shows up to an auction and doesnt make the minimum bid? They all knew the min....so why show up thinking you would get it for less to open up the auction? Unless there is a lie about the auction? I dont see how CB could lie about the nubmer of bidders....somebody knows somebody who would talk about that process. Is it possible there were ZERO bidders? And this was just a show? I doubt it.
You cant always blame this guy....most times....but not in this case IMO. Bidders showed up to bid then didnt and that is what I believe until somebody has good evidence otherwise
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If he's a poker player, he's not a good one. I guess I can understand not wanting to go below the clearly stated minimum bid, but at some point it must be realized that it just won't sell for the price he wants. If he's fine sitting on it, then no big deal, but if he does feel he needs to move it for whatever reason, making life tough on interested bidders isn't a smart move.
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September 17, 2018 at
09:24:41 PM
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02/27/2008
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706
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Reply to:
Posted By: SprintFan16 on September 17 2018 at 08:55:20 PM
If he's a poker player, he's not a good one. I guess I can understand not wanting to go below the clearly stated minimum bid, but at some point it must be realized that it just won't sell for the price he wants. If he's fine sitting on it, then no big deal, but if he does feel he needs to move it for whatever reason, making life tough on interested bidders isn't a smart move.
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Chuck is an idiot plain and simple. The only reason the guy is rich is because he preys on poor people who are either desperate or dumber than he is.
Sadly I agree with Dave Lundstra. Unless Chuck lets go of it for well under $3 million it probably isn't ever going to get sold. At $3 million that place would NEVER show a positive ROI.
For the most part, rich people don't get rich by being stupid or wasting money. Obviously, Chuck is one of the exceptions to that rule.
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September 17, 2018 at
09:37:27 PM
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05/28/2008
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889
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Reply to:
Posted By: hurricanefan on September 17 2018 at 03:23:21 PM
copied from a friends page:
Dave Lunstra
Husets Speedway was up for auction last Saturday. I was one of only 3 people to send the deposit in to get a bidding number. 2 bidders were on site(one of which was me) and one bidder was online. There was no “game of chicken” at the auction. Many times at an auction if they don’t get the opening bid they lower it to get the bids going, which truthfully is what needed to happen to make the investment make sense. Keep in mind...people that have millions to invest didn’t get it by being stupid, which,if I had to guess, is why it hasn’t sold yet. Also the costs don’t stop there. Winning bidder had to pay a 4% buyers fee($40,000/mill) which unfortunately is common in most auctions these days. I myself did not make any Crazy low ball offers after the auction. I simply turned my phone off and thought about the future of our beloved race track. I felt it only right to post this because of all the gossip that flys around when many details are not available. My passion for racing runs very deep and the current price of the track pretty much guaranties that local racing is over (hope I’m wrong)! Let’s just hope something positive happens in the near future so we can start making more memories at our local track!
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I think that this clearly answers some of the questions from above. Three people had enough money to pre-qualify and showed up to the auction. None of the three showed up with any intention of paying the mimimum price. All three were waiting for Chuck to remove the reserve price which is a somewhat common occurence at an auction. He did not move away from the reserve price and all three people kept thier bid cards in thier pockets.
What is comical is the spin that has come from this. If no one would buy it at 3 million, why does Chuck think that he can get 6 million???
Until Chuck gets desperate for money, the track will stay mothballed.
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September 17, 2018 at
11:33:06 PM
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06/10/2015
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2420
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Quit possibly the only way to motivate Chuck is for an individual or a group to offer a meeting with him to discuss the future of racing in the Sioux Falls area. And with that meeting inform him that his chance to sell is fast waning as they are going to turn their attention towards either renovating the track in Hartford or building a new facility located near Sioux Falls. And that once ground is broke in either scenerio, all bets are off. That would cause the price to plummet well below anything close to what Chuck says he wants. And probably even well below is supposed minimum. So somebody needs to get Chuck to either shit or get off the pot! I want there to be racing in the Sioux Falls area again, and if Chuck has to eat the losses of Badlands, well that's just fine with me. The 2019 season is soon going to be a wash, so alternatives do seem like the answer anyway.
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September 18, 2018 at
12:14:11 AM
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02/20/2005
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522
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I really hope I'm wrong but I think this probably means the end for Husets Speedway. I don't know the guy but with the constant lies this guy has told since the loan cap thing passed, I don't think this is good.
This guy doesn't seem to me to care about the state of South Dakota or racing in general. I stand by my belief that he only bought the track to TRY to show people he was some kind of philanthropist.
Unfortunately I can see a press release next spring that says "After all he did for the state of South Dakota and racing in general besides the great work he did at the racetrack. Everyone was against him and wanted to see him fail so the most economical situation for him is to raze the facility and let it go back to the county." Again I hope I'm wrong but I think it will be his final F U to everyone.
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September 18, 2018 at
12:22:14 AM
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11/30/2004
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2005
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Badlands.....and the winner is? NOBODY
However we do know who the losers are. Race teams & fans in the area.
Thanks Chuck
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September 18, 2018 at
07:34:26 AM
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Joined:
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05/26/2005
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3594
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The obvious next move in order to save face would be for chuck to sell badlands to someone worse. That way folks would someday pine for the good old days when chuck owned it.
Coming soon Kim Jon-un's Glorious Speedway
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