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Topic: Husets Speedway Email this topic to a friend | Subscribe to this TopicReport this Topic to Moderator
Page 2 of 3   of  59 replies
Murphy
August 23, 2017 at 11:08:36 AM
Joined: 05/26/2005
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Posted By: egras on August 23 2017 at 10:33:44 AM

Ok....I'll retract my statement of "no value at all"

 

What I meant was, the land itself is not worth 1-1.5 million by itself---as someone earlier had said.  Not close. 



     I follow what you mean. The alfalfa field would have a big ol' coral towards one end. That should add some value.



vande77
August 23, 2017 at 11:51:45 AM
Joined: 01/20/2005
Posts: 2079
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Posted By: Murphy on August 23 2017 at 11:06:20 AM

Usually I suppose that's true. But in this case a payday loan guy did.



it didn't make sense for him either.  When the $$$ he was using to operate it dried up due ot the Payday Loan initiative on teh ballot, he no longer had the income on that side to offset the losses on the racetrack side (I'm sure it was set up that way with input from a CPA) that kept his tax liability low.

If the track was forced to make money on it's own merits it couldn't, so the only smart business decision was to close the doors.



vande77
August 23, 2017 at 01:46:35 PM
Joined: 01/20/2005
Posts: 2079
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Posted By: on at


yes, but that still leaves $4 million to get to his asking price.

If there is a group of 10-20 people willing to invest and lose $500,000 each and do it as a hobby and not worry about making $$ then yes, it's viable.

If there is one person willing to spend $7.5 mil, operate it for 5 years and then sell for $2 mil and take a loss of about $5 mil then yes, it's viable.

Dennis Roth and Tod Quiring seem to be in it racing for the love of the sport, not to make $$$.  Their other business ventures allow them to be involved (as does Richard Marshall).  The pool to draw from that are in that boat is VERY small and most are already involved in one form or another.

I do hope it gets sold and operates as a racetrack.  

The problem isn't the track or facility, the problem is the current asking price.  

Heck, Tony Stewart reportedly paid $5mil for Eldora (nothing official, that is just what people say he paid, my guess is it was half that), but it had a lot going for it already (marquee events with big crowds, tradition and mystique).   Huset's has none of those things and the asking price started at over double what Tony reportedly paid.  That is the #1 issue, the asking price.  if it was priced at $1-1.5 mil I have no doubt someone would have purchased it already.




Murphy
August 23, 2017 at 04:26:16 PM
Joined: 05/26/2005
Posts: 3262
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Posted By: vande77 on August 23 2017 at 01:46:35 PM

yes, but that still leaves $4 million to get to his asking price.

If there is a group of 10-20 people willing to invest and lose $500,000 each and do it as a hobby and not worry about making $$ then yes, it's viable.

If there is one person willing to spend $7.5 mil, operate it for 5 years and then sell for $2 mil and take a loss of about $5 mil then yes, it's viable.

Dennis Roth and Tod Quiring seem to be in it racing for the love of the sport, not to make $$$.  Their other business ventures allow them to be involved (as does Richard Marshall).  The pool to draw from that are in that boat is VERY small and most are already involved in one form or another.

I do hope it gets sold and operates as a racetrack.  

The problem isn't the track or facility, the problem is the current asking price.  

Heck, Tony Stewart reportedly paid $5mil for Eldora (nothing official, that is just what people say he paid, my guess is it was half that), but it had a lot going for it already (marquee events with big crowds, tradition and mystique).   Huset's has none of those things and the asking price started at over double what Tony reportedly paid.  That is the #1 issue, the asking price.  if it was priced at $1-1.5 mil I have no doubt someone would have purchased it already.



The asking price and the eventual selling price could be pretty far away from each other.



frenchy
MyWebsite
August 23, 2017 at 07:56:59 PM
Joined: 05/31/2007
Posts: 239
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I still don't understand how it makes sense to have it sit empty. Even sitting empty there are still expenses such as property tax, insurance, maintenance, etc. I would bet it costs at least $100,000 a year just to own the place and do nothing with it. So why not run some races and try to make money or lease it out to someone that will run them for you? I think that the racetrack and the pawnshop must have been some kind of money laundering scheme. All of the contractors that worked on one worked on the other and they traded out work for suites. I don't know enough about money laundering to know how it would work but something was fishy.

What I would love to see happen to the track is for Terry McCarl to lease the track from Chucky and run and promote it. He knows Husets about as well as anybody, he's a great promoter, and he's a racer. I think he could figure out a way to get the racing surface to work (and when it does Husets is awesome), work with Knoxville and Jackson, and make racing strong in the midwest again.

 



Green18
August 23, 2017 at 08:50:49 PM
Joined: 05/15/2016
Posts: 204
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Posted By: Murphy on August 22 2017 at 10:46:45 PM

Just my observation- whenver anybody has to insert the word.  Fact, into a rumor, it's generally not true. Fact. 



I'll be sure to tell the gentleman who told me to my face he was apart of the group that made the offer, that he is wrong.  




Murphy
August 23, 2017 at 08:57:06 PM
Joined: 05/26/2005
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Posted By: Green18 on August 23 2017 at 08:50:49 PM

I'll be sure to tell the gentleman who told me to my face he was apart of the group that made the offer, that he is wrong.  



Well, unless you saw a written offer, what you heard would be considered hearsay, a notch above rumor, I guess.

Why not just wait for Friday? newbeevur said there's going to be an announcement then.




jake899
August 23, 2017 at 09:04:13 PM
Joined: 11/30/2004
Posts: 179
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Posted By: Murphy on August 23 2017 at 08:57:06 PM

Well, unless you saw a written offer, what you heard would be considered hearsay, a notch above rumor, I guess.

Why not just wait for Friday? newbeevur said there's going to be an announcement then.




Typically folks that do business of this scale don't run around and tell people their business.  Too many variables and things can end up different and they look like an ass for spouting off.  People can say what they want....I'll wait for any announcement, although I'm not holding my breath. 



vande77
August 24, 2017 at 10:02:41 AM
Joined: 01/20/2005
Posts: 2079
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Posted By: on at


I hope so, I also hope it's back to Sunday racing for 410's so the fans win with racing at 4 tracks over 3 days (River Cities, Jackson, Knoxville and Huset's).




newbeevur
August 24, 2017 at 10:17:56 AM
Joined: 12/03/2004
Posts: 483
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YAY! fake shake n bake says book it, talk about the kiss of death!

There is a backup plan, Shake n' bake purchased the rights for the princely sum of 89 cents, Murphy's porno scenes with Phyllis Diller, Rosie O'Donnell, Miss Piggy, Kaitlin Jenner & RuPaul.

If tomorrow doesn't happen SnB is gonna sell Murphy's 5 DVD porn set for $7.95. If he sells 1 million sets to Hoseheads members HE is gonna buy Badlands Motor Speedway.


The worst president of my lifetime:
Ronald Reagan

Murphy
August 24, 2017 at 02:06:38 PM
Joined: 05/26/2005
Posts: 3262
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Posted By: newbeevur on August 24 2017 at 10:17:56 AM

YAY! fake shake n bake says book it, talk about the kiss of death!

There is a backup plan, Shake n' bake purchased the rights for the princely sum of 89 cents, Murphy's porno scenes with Phyllis Diller, Rosie O'Donnell, Miss Piggy, Kaitlin Jenner & RuPaul.

If tomorrow doesn't happen SnB is gonna sell Murphy's 5 DVD porn set for $7.95. If he sells 1 million sets to Hoseheads members HE is gonna buy Badlands Motor Speedway.



You forgot to use the word  FACT! a couple times to make it look like you're in the know. That Miss Piggy! She's hot, just like crispy bacon! FACT!



Green18
August 24, 2017 at 02:44:39 PM
Joined: 05/15/2016
Posts: 204
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This message was edited on August 24, 2017 at 02:47:35 PM by Green18
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Posted By: Murphy on August 24 2017 at 02:06:38 PM

You forgot to use the word  FACT! a couple times to make it look like you're in the know. That Miss Piggy! She's hot, just like crispy bacon! FACT!



 Murphy.    Do you truly not believe a word I said?     Or are you just skeptical?     Or just an ass?    Why would I make something like that up?   The worst I can be accused of on this website is, sometimes, saying something with sarcasm. But in that situation I would clarify it as such,  sarcasm.      Otherwise I don't believe I have a history of spewing false statements on this website   




blazer00
August 24, 2017 at 03:08:49 PM
Joined: 06/10/2015
Posts: 2420
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Posted By: Green18 on August 24 2017 at 02:44:39 PM

 Murphy.    Do you truly not believe a word I said?     Or are you just skeptical?     Or just an ass?    Why would I make something like that up?   The worst I can be accused of on this website is, sometimes, saying something with sarcasm. But in that situation I would clarify it as such,  sarcasm.      Otherwise I don't believe I have a history of spewing false statements on this website   



Maybe you'll learn as I did, no matter who you may believe is a reliable source or how much that source claims to know.....keep your mouth shut and your foot won't have to plug it. And too.....something may indeed be on the table or be in an offer.....but if it doesn't become a part of the deal or happen at all you end up looking foolish.  The only alternative to not  looking like an idiot is to come right out and name the source....the person who "let you in on the deal".  Even then....it's a no win situation so take your lumps as they come....or when if happens, then gloat.



Murphy
August 24, 2017 at 03:23:09 PM
Joined: 05/26/2005
Posts: 3262
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Posted By: Green18 on August 24 2017 at 02:44:39 PM

 Murphy.    Do you truly not believe a word I said?     Or are you just skeptical?     Or just an ass?    Why would I make something like that up?   The worst I can be accused of on this website is, sometimes, saying something with sarcasm. But in that situation I would clarify it as such,  sarcasm.      Otherwise I don't believe I have a history of spewing false statements on this website   



Honest questions, deserving of honest answers.

I don't know.     I am skeptical.   Sometimes.


    I don't know you so I don't know if you'd make something up or not. Since this is an internet forum message board, it's difficult to gauge who is in the know about anything. I'll have to say that I'm just a race fan and am not in the know about anything going on in the Husets drama.  Therefore, I have to base my perceptions on common sense.

     As someone mentioned above, the folks that are willing to offer $5 million for anything are usually the kind of folks that keep their business to themselves. If they don't, they may find that info plastered all over the internet rumor universe. That's not to say that someone didn't do exactly that, but...I'm sceptical.

     Think about the last 400 times that someone has thrown out something about this fiasco that they say they *know* is the truth (or al least want other folks to believe as the truth). How much of that turned out to be true? What kind of odds would you then give on the next *true* item that comes out? 1 in 400?  Heck- I think shake-n-bake is about 0 for 50 right now. If I don't have much faith in a guy like shake n bake, how can I have much faith in other, anonymous people?

     Anyway, I hope you're right about having racing at Husets next year. I'll go out on a limb and make a statement that I can't back up: If the speedway reopens, I don't forsee the name Badlands Speedway being used.



Murphy
August 24, 2017 at 03:25:09 PM
Joined: 05/26/2005
Posts: 3262
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Posted By: blazer00 on August 24 2017 at 03:08:49 PM

Maybe you'll learn as I did, no matter who you may believe is a reliable source or how much that source claims to know.....keep your mouth shut and your foot won't have to plug it. And too.....something may indeed be on the table or be in an offer.....but if it doesn't become a part of the deal or happen at all you end up looking foolish.  The only alternative to not  looking like an idiot is to come right out and name the source....the person who "let you in on the deal".  Even then....it's a no win situation so take your lumps as they come....or when if happens, then gloat.



Oh geez! What if there really is a big announcement tomorrow and half a dozen posters take credit for it?




SPRINT41
August 24, 2017 at 03:36:43 PM
Joined: 11/09/2006
Posts: 50
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Posted By: Murphy on August 24 2017 at 03:25:09 PM

Oh geez! What if there really is a big announcement tomorrow and half a dozen posters take credit for it?



Going out on a limb and saying BIG news is the track is still for sale and you can buy it if you want to.



schristensen
August 25, 2017 at 08:33:05 AM
Joined: 02/10/2005
Posts: 114
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Does anyone know what time we should expect this big announcement?  wink



Murphy
August 25, 2017 at 09:04:22 AM
Joined: 05/26/2005
Posts: 3262
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Posted By: schristensen on August 25 2017 at 08:33:05 AM

Does anyone know what time we should expect this big announcement?  wink



Surely there would be a press conference for something like this-right?




Threebeerminimum
MyWebsite
August 25, 2017 at 09:43:27 AM
Joined: 05/23/2016
Posts: 76
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Posted By: rovanber on August 22 2017 at 12:50:20 PM

Any new rumors circulating around about the future of Husets Speedway?



It will make a nice campground someday. No one will remember it was once the site of a great venue. Racers and fans have moved onto other venues already. There is no value left as it is now. 



Threebeerminimum
MyWebsite
August 25, 2017 at 09:46:26 AM
Joined: 05/23/2016
Posts: 76
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Posted By: frenchy on August 23 2017 at 07:56:59 PM

I still don't understand how it makes sense to have it sit empty. Even sitting empty there are still expenses such as property tax, insurance, maintenance, etc. I would bet it costs at least $100,000 a year just to own the place and do nothing with it. So why not run some races and try to make money or lease it out to someone that will run them for you? I think that the racetrack and the pawnshop must have been some kind of money laundering scheme. All of the contractors that worked on one worked on the other and they traded out work for suites. I don't know enough about money laundering to know how it would work but something was fishy.

What I would love to see happen to the track is for Terry McCarl to lease the track from Chucky and run and promote it. He knows Husets about as well as anybody, he's a great promoter, and he's a racer. I think he could figure out a way to get the racing surface to work (and when it does Husets is awesome), work with Knoxville and Jackson, and make racing strong in the midwest again.

 



Pretty easy for you to spend others people's money. 





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