Forum: HoseHeads Sprint Car General Forum (go)
Moderators: dirtonly  /  dmantx  /  hosehead

My guess is that some big asshole farmer might tear up the place and farm it. Maybe put up a hog confinement or 2. 

Still love husets 

I'm not in the know here at all, don't have a dog in the hunt, and don't have an opinion one way or another about this guy.  I am curious though, why does he have a burr up his ass with Knoxville?   

I DOUBT A FARMER WOULD BY IT, LAYING IN THE FLOOD PLAIN.

IT HAS TO BE REAL CLOSE TO THE CITY LIMITS, SO I DOUBT HOGS WOULD LIVE THERE

JUST HOPE FOR THE RACERS AND FANS THAT SOME HOW SOMEWAY SOMEONE GETS THE TRACK THAT RESPECTS, THE RACERS FANS AND OTHER TRACKS AROUND THE AREA UNLIKE CHUCKY. HE TRIED AND SUCEEDED INTO PISSING A LOT OF PEOPLE OFF

Yes. Additional ground was purchased prior to the beginning of the season. 

Gotta give you credit, you called it from day one. Hopefully someone will buy the track & keep it going. That would be a shame to lose such a historic place. We have lost far too many already

BECAUSE HE IS CHUCK BRENNAN AND THE WORLD HAS TO BOW DOWN TO HIM. BECAUSE HE THINKS HE HAS ALL THIS MONEY, THAT HE GOT FROM PEOPLE THAT NEED A LOAN. ALL HE IS IN MY EYE'S IS A LEGALIZED LOAN SHARK, WELL THE PEOPLE OF SOUTH DAKOTA SPOKE AND THEY DO NOT WANT HIS TYPE IN BUSINESS. IN THE PRESS RELEASE IT WAS ALL ABOUT HIM HOW HE GOT SCREWED OVER BUT THE VOTE, AS I READ ON FACEBOOK THIS WAS IN THE WORKS FOR 2 OR 3 YEARS TO CAP THE INTEREST RATE. BUT I DO NOT KNOW SOME MEMBERS OF KISS ARE FINACIALLY INVOLLED WITH THE TRACK AND HIS OTHER THINGS.

Too much opportunity for flooding. 

Badlands, Jackson and Knoxville were actually in negotiations to make racing better for all three facilities. 

He doesn't really have a burr up his ass with Knoxville. All he heard was Knoxville does this, Knoxville does that and on and on. Huset's was not, is not nor ever will it be Knoxville so he wanted to do things his way. But the asshats on this board can't let anything go and everything has to be their way or no way so they stirred up a lot of unnecessay bull shit. Most of these so-called race fans are nothing more than jackals.

This news today was a real kick in the ass for a lot of people. Now, if they want to race, they have to put in a lot more miles if they race at all. I'm thinking a lot will just say the hell with it and quit. I think it sucks when any track shuts down.

I always wondered what this guy's game was and why the sudden interest to invest soo much money into the sport. Don't get me wrong, it is great in all that someone is willing to do that but it just seemed weird to show up out of the blue and invest basically almost $10 million into a dirt track. I understand he was wanting to do concerts and stuff but it seemed like a case of his eyes were bigger than his stomach or in this case wallet. I think the concepts and the ideas were great and hoped for the best for the fans in that area but I do not agree with the manner in which he handled himself and did business with others. All across the country most promoters know that you have to cooperate with each other to make the pie bigger rather than trying to take as much as the current pie.

Personally, I always thought that this was just going to be tax write off for him and his loan shark business and sorry for not being sorry that a bill was based capping your interest rate at 36%. It seemed like in his message he was pouting a bit with the law being passed but again, not sorry. 

Sadly I do not see anyone buying a facility for the asking price here and that is what is most sad about this. Even if I were to hit the lottery or if I had 10-12million of cash just to buy something I would not buy Husets or Badlands for that price. It would take a couple life times probably to get your money back. I understand the risks he took and the updates on the facility but I do not see anyone buying it for the asking price. My fear is that the track will sit closed up for a while until nature starts breaking it down and even then he probably will not come down. A huge shame, was hoping it would all work out after it was announced that they were working together.

who wants to start a gofundme account and try the green bay packers route to this?

36% is a lot of interest.Hussets has a long history of tradition and Sunday nights seemed to work fine.Mr.Breenan spent way more than needed as everyone just wants good racing at reasonable prices ,concessions that are good,speedy,and fairly priced and then be able to pay a purse good enough to let the racers be able to afford what they do.One good thing happened as the purses were improved to the racers and I hope that continues.Promoting is not for everyone and insurance and many other factors enter into surviving.NSL helped also but that seems to be history now so it will be Jackson and Knoxville .

I suppose I will state the obvious. What does his other business have to do with this (entertainment) business unless this business was unable to stand alone financially?

Before going down the 'write-off' road realize that reducing a tax burden through a write off still costs money and is not a $1 for $1 investment recovery.

You're correct, but what the hell was he thinking? 10 million on a racetrack, 30 million dollars on the pawnshop. One interesting theory floating around locally is that the pawnshop was a hedge for if his payday loans got banned. Basically another way to prey on poor, desperate people. However the pawn shop doesn't really have much merchandise, it's more of a concert venue than anything. 

I also wonder if he pissed off local business people. They held a chamber mixer for the Sioux Falls and Brandon chamber of commerces and about 25 people showed up. They had free beer and only 25 business people showed up for it.

Ok, I have no dog in this fight.   I have never been to Husets/BMS.   I never thought that BMS would survive because I did not believe in the business model.   He was basically using the dirt track as a draw (loss leader) for the rest of the BMS experience.  The pawn shop/gold mine/gun range/whatever else he did out of that complex.   I thought that eventually he would get tired of funding the loss leader at the current rates to fund the other complex.  Much as I never thought that the NSL would survive because it also had a flawed business model.  

Many people on this board are rehashing all of the reasons that they hated BMS and Chuck,  and many are taking pleasure in this moment.  However, Chuck is shutting down BMS because he is leaving the state because of the new legislation.  He is not shutting down the track because it was not meeting its goals.   In fact, all indications were pointing to a more successful second year.   The BMS/Jackson/Knoxville pissing matched had seemed to subside.  In fact it was announced that the three groups were going to work together and not schedule against the other's premier events.   The NSL was out of business. So there was one less organization in the area promoting races.   Even the Rock and Roll weekend was looking better because of the addition of the USAC midgets to the show.   I think that some of the ant--BMS people on this board need to slow their roll.  It was the result that you wanted, but not for the reasons that you thought.  

Well said!  I agree!

The 360 Sprints don't have to worry. They will be at Jackson I am fairly certain they were already on the schedule for 6 shows in 2017  Now you will probably see more  The big question is will Jackson change back to Saturday night?  It was shown at Badlands that you could get a pretty decent field of cars (if the North Dakota cars came down ) running on Sat. night  But this will mean Fairmont will have to switch back to Fri. night   One more thing I believe the 360 shows at Jackson are MSTS shows  GM

If we can find 2000 people to invest $5000 bucks then we would have a Green Bay packer ownership senerio. Its hard to say what kind of return on investment this track would bring. Its an interesting idea.

Agreed. The end result is just as I pictured it. What I didn't expect was Chuck to pull the plug because of the rate cap, and do it this abruptly. However, I don't believe anybody, as you say "wanted" this outcome. Nobody wanted this result, and even though the rate cap was brought up on this forum numerous times, I have to admit I dismissed it because hey, 36%  is still high right? Surley his business wouldn't close the doors because of 36% intrest rate cap, right? Wrong. 

I think the one thing that people don't realize about the int. rate is that there is a high default rate and bankruptcy rate for people that receive these loans.  He doesn't do title loans so they are all unsecured loans.  The default rate is somewhere in the neighborhood of 50%.   I'm not trying to justify Chucks decision, just stating that it is not really 36%.

Anyways this is not good for racing!  That track like most tracks have been entertaining familes for decades.  Parents introduce them to racing, they grow up have their own families and do the same.  The feasability study at 10M doesn't justify someone buying it as a business opportunity.  I'm sure it would take 20 years to recoup the invesment.