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Forum: HoseHeads Sprint Car General Forum (go)
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Topic: Badlands 2018 Schedule Email this topic to a friend | Subscribe to this TopicReport this Topic to Moderator
Page 3 of 3   of  53 replies
Murphy
November 04, 2017 at 08:16:23 AM
Joined: 05/26/2005
Posts: 676
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Posted By: newbeevur on November 03 2017 at 05:14:12 PM

Well we are already in November and there is absolutely nothing in the rumor mill about this racetrack, I am scared shitless 2018 isn't gonna see any racing there either.

A little insight for the people saying Brennan single handedly killed of Sioux Falls area racing, that isn't even close to the case.

The 2015 season at Hartford saw an average of 4 or 5 305 sprints for their weekly shows and the entire facility was an incredibly run down falling apart pile of shit. Put the blame where it belongs- Lyle Howey killed off that shithole.

The 2015 season at Hushits saw about 15 cars racing in a combined 410 & 360 class, plus the same about 5 305s, and small fields of B mods, mini sprints and hobby stocks, for a ripoff ticket price of $15. Put the blame where it belongs- a quarter century of the Rubins was close to killing off that place like they did Lake County Speedway.

Not saying Brennan was perfect in this deal, obviously his fuckups have been well documented on here and most are true.

But had Brennan never entered the racing scene Sioux Falls area racing would be the same falling apart pile of shit its been for the last 15 years due to Howey and Rubin, by now it could have easily been dead anyway.

At the end of the day had a certain vote in November of 2016 gone a certain way Badlands Motor Speedway would still be humming right along and paying record purses and giving the locals good shows with record car counts. 

But not everything goes perfectly in the real world.



      The Rubin/Howey part I agree with. I have to disagree with the part about the speedway still humming along if the vote had gone Bennan's way. Here's why:

     No one is going to keep open a business for long if it's losing money-especially if there are some investors involved. It doesn't matter if it's a speedway, a pawn shop, a gun shop, a radio station, what have you: money losing businesses close. Completely seperate of Brennan and the loan vote, these businesses closed because they weren't making enough money to cover the bills. Every businessman faced with that dilema would end up making radical changes to save the investment, or shut down the business.



3togo
November 04, 2017 at 09:30:37 AM
Joined: 06/14/2016
Posts: 136
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Reply to:
Posted By: Murphy on November 04 2017 at 08:16:23 AM

      The Rubin/Howey part I agree with. I have to disagree with the part about the speedway still humming along if the vote had gone Bennan's way. Here's why:

     No one is going to keep open a business for long if it's losing money-especially if there are some investors involved. It doesn't matter if it's a speedway, a pawn shop, a gun shop, a radio station, what have you: money losing businesses close. Completely seperate of Brennan and the loan vote, these businesses closed because they weren't making enough money to cover the bills. Every businessman faced with that dilema would end up making radical changes to save the investment, or shut down the business.



Actually the vote had every thing to do with it closing down, it was obvious that the loan centers in SD is what was financing his Badlands brand. Pretty sure it wasn't expected to be making $$$ after just one year, however when his safety net went away...well a lot of properties went up for sale! Back to the racing side of things, it was all but dead st Husets, and without a doubt the only year Badlands was open was the best sprint car racing that track had seen in 25 plus years.I think at this point the only chance of this track and Sprint car racing up here is for someone like Todd Q. To take this over and see what happens.



Murphy
November 04, 2017 at 10:18:12 AM
Joined: 05/26/2005
Posts: 676
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Posted By: 3togo on November 04 2017 at 09:30:37 AM

Actually the vote had every thing to do with it closing down, it was obvious that the loan centers in SD is what was financing his Badlands brand. Pretty sure it wasn't expected to be making $$$ after just one year, however when his safety net went away...well a lot of properties went up for sale! Back to the racing side of things, it was all but dead st Husets, and without a doubt the only year Badlands was open was the best sprint car racing that track had seen in 25 plus years.I think at this point the only chance of this track and Sprint car racing up here is for someone like Todd Q. To take this over and see what happens.



     I have to disagree with you about the financial part. He had investors. He said that from the start. Those are the people who were willing to invest their money in a project and carry it until it was making a profit. If he took that big gamble based on being able to subsidize it with money from his other businesses then he was probably headed for trouble anyway. It was just a matter of time.

      He threw money around like it was no big deal, then shut everything down when the money ran dry. Do you see an issue there? The fact that no one wants to buy the speedway for $10 million suggests that he shouldn't have invested $10 million in it. Who knows? Maybe the plan was to invest $10 million, make it the greatest thing on earth and then sell it for $20 million. That didn't happen either.



blazer00
November 04, 2017 at 11:33:57 AM
Joined: 06/10/2015
Posts: 1394
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I'd bet his bragging about investing $10 million in to the facility falls right in there with his bragging about his penis size. Neither measure up! What say ye, shake n' bake motorsports? You always seem to be in the know.



wolfie2985
November 06, 2017 at 12:20:29 PM
Joined: 07/29/2010
Posts: 303
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Perhaps the biggest question is: 36% interest isn't enough to make a good profit?

You'd think at that rate, you could lose money at the speedway every night and use it as a write-off - or just plain lose money promoting your hobby.

They must have a hard time collecting from many if 36% isn't enough.

For those b*tching about their local track - be careful what you ask for, you might just get it. 



Murphy
November 06, 2017 at 01:08:54 PM
Joined: 05/26/2005
Posts: 676
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Reply to:
Posted By: wolfie2985 on November 06 2017 at 12:20:29 PM

Perhaps the biggest question is: 36% interest isn't enough to make a good profit?

You'd think at that rate, you could lose money at the speedway every night and use it as a write-off - or just plain lose money promoting your hobby.

They must have a hard time collecting from many if 36% isn't enough.

For those b*tching about their local track - be careful what you ask for, you might just get it. 



     I'm afraid you don't understand what a tax write-off means.  It's not like deducting $100,000 off your tax payment to the IRS if you sustain a $100,000 loss on one (or more) of your businesses. What you can deduct is the amount of tax you would pay on that $100,000. If you are at the high tax bracket (you are rich), that means you can deduct $36,000 off your tax payment. You are out the other $64,000.

     Note: I picked the $100,000 out of thin air, just to make an easy demonstration. I know nothing about the financial situation of the Badlands empire.

     The answer to your original question- 36% interest must not be enough. That's why they closed. That's basic economics. A company has to take in more than it pays out, or it goes away.



slideguy
November 06, 2017 at 01:53:27 PM
Joined: 12/03/2004
Posts: 379
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I honestly didn't think the I 90 Speedway was in that bad of shape.  It certainly was not the best facility I ever sat in, but I have been to much worse.  Honestly the track itself looked pretty racy.  The grandstand boards were bad, but so are the ones at Park Jefferson and some other tracks, so it isn't like the facility was junk. 

Now if you are going to compare I 90 to Jackson and Badlands, then it becomes a different story.  There aren't more than 5 racetracks in the country that have facilities as nice as Jackson/Badlands (Grandstand+amenities/suites/concession/bathrooms)  Charlotte and Texas are gorgeous and new, but outside of those 2 I would say that only Perris and Knoxville are in the same league, and I still think both Badlands and Jackson are nicer.  I know that Jackson is nicer than Knoxville and it isn't close and given the extra Badlands amentities and boards, I would say that is nicer than Knoxvlle as well.  Pretty much every other facility in the midwest is below par compared to Jackson/Badlands, and that includes some great facilities at Eagle, I 80, Deer Creek etc.

 

(I haven't been to Eldora since Earl owned it)



blazer00
November 06, 2017 at 02:21:24 PM
Joined: 06/10/2015
Posts: 1394
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The situation for Brennan will only get worse the longer he delays taking whatever financial hit he has to take in order to find a real buyer for the track. The fan base is there, so with the right programing and timing, that isn't such a big issue. But for the drivers, teams and team owners time is running short. Drivers and race teams have to take a hard look at where they are going to run next year, and for many, that may mean they need to find new sponsor money. How many of the smaller sponsors in the Sioux Falls area are going to continue spending money for advertising with race teams, that will no longer be reaching there core customers? And if a team now has or now finds a sponsor at or near an area they raced at last year, they will be obligated to return and race in that area once again. So the next owner or promoter at Husets needs time to recruit not only race teams, but also sposors and advertisers, too. It will only become more difficult to re-sell all the billboards, fill the suites, and find business' that will sign up for weekly sponsorship exlusitivity. And those items add up to a lot of the necessary dollars to operate a race track. And then there is filling in a date for say the WoO, or any other special series which does bring a large clutch of money to a track. It's already at a time when 2018 is very much in jeapordy, and it will only get worse for securing a future after next year. If Husets is sitting empty next spring, somebody should quick jump on building a new faciltity south of Sioux Falls and not far off intersate 29, in either direction.



SDDTRF67
November 06, 2017 at 02:52:12 PM
Joined: 04/21/2015
Posts: 79
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The vote had nothing to do with any of it UNLESS you say it made CB take his toys and go. CB himself said that South Dakota was less than 10% of his total income for DLC's. Everything he did was over the top and aimed at the VIP experience. The problem with that is a majority of weekly dirt race fans could give jack squat about the VIP experience. When it concerned the pawn shop he was bringing in select acts that only a select crowd cared about and charging twice & up to 4x ticket prices for what the same act may have cost you at the Twin Cities, Omaha, Sioux City, Fargo etc would charge you and again the whole time pushing the VIP experience. It was his money and he had a blast spending it & he gave away more tickets than he probably sold. The business model was functioning in a manner built to lose and contrary to popular belief he wanted the race track to become a more popular venue for outdoor music shows. I was never one wanting any of it to fail, but I also wasn't one of these dopes buying into all the BS that was being thrown around out there. More of it was over the top self made hype than anything else. In the end, the skeptics were correct and that's not hating or rooting for anything. Just is what it is. Sad but true.
"Gimme fuel, Gimme fire, Gimme that which I desire!"

oswald
November 06, 2017 at 03:43:51 PM
Joined: 11/30/2004
Posts: 1633
Reply

Good luck getting someone to spend 9.46 million to run dirt track races. IF it sells i doubt it will be because the buyer wants to use it for racing. Dont know how much can be made from outdoor concerts but racing alone will never get a buyer back his 9.46 million much less give him a profit.

 

Plus it started at 10 million. Then it was posted the price was dropped to 7.5 million to help it sells faster now the website says 9.46 million! Does this clown even know how much he wants for the place?

 

Hate to say it, but I feel it will set unused for several years unless Chuck decides to reopen it or he leases it out for some specials.



3milesfromEagleRaceway
November 07, 2017 at 06:41:05 AM
Joined: 05/08/2010
Posts: 112
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Is there camping at the track I can pre- pay up front for a 3 year term?



z-man
November 07, 2017 at 07:28:02 AM
Joined: 11/21/2004
Posts: 531
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It is now up for lease...



Murphy
November 07, 2017 at 07:39:40 AM
Joined: 05/26/2005
Posts: 676
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Posted By: z-man on November 07 2017 at 07:28:02 AM

It is now up for lease...



I'd say that opens up the possibility of someone leasing it for a WoO show or two.



Murphy
November 07, 2017 at 07:43:24 AM
Joined: 05/26/2005
Posts: 676
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Reply to:
Posted By: 3milesfromEagleRaceway on November 07 2017 at 06:41:05 AM

Is there camping at the track I can pre- pay up front for a 3 year term?



     A serious answer to a perhaps not serious question:

     At the press conference Brennan held at the speedway the question of camping came up. I believe it was explained that they couldn't put in an official campground yet due to zoning. The whole operation was operating on a grandfathered-in conditional use permit from the county. Messing with that would open up a ginormous can of worms that no one wants to see opened.





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