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Topic: A race to own Husets??? Email this topic to a friend | Subscribe to this TopicReport this Topic to Moderator
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throwingdirt
MyWebsite
June 14, 2019 at 11:22:22 PM
Joined: 05/03/2017
Posts: 9
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The guy has lost his mind!

 

June 14, 2019, 7:00 pm Central

This information is NOT YET OFFICIAL and we are working diligently with our legal team to release all of the official rules, processes and procedures via www.husets.com on or before Wednesday, June 19th at 5pm Central.

With that being said, this is the first time ever in ANY facet of the racing world that such an event has taken place and we wanted to take some time to give you an outline of a very special race that we hope to run on Tuesday, August 13, 2019 in Brandon South Dakota.

We have been aggressively trying to get the Speedway sold and in the hands of a great new ownership group to bring this iconic venue that was opened in 1957 back to life for the city of Brandon, the race fans, the race teams, and auto racing in general.

After purchasing the track in 2015 from the Rubin family, we did a complete re-model and re-build of everything investing over $18,000,000 into the project and opening for a full season in 2016 with nearly 40 events that included racing, concerts, monster trucks, moto-cross, and more.  The birth of Badlands Motor Speedway was the talk of the racing world and brought new life to this legendary facility.

In 2017 the speedway was put on the market for approximately $9,000,000 which was around half of our investment.  We have agreed to sell the facility several times and agreed to terms, but in every circumstance the deal fell thru as the buyers/posers were all talk and no dough!

That brings us to what will be the most epic race in US Dirt Racing History with literally the largest racing purse that we have ever been able to find in the history of United States Racing.  Even the Daytona 500, the Indy 500 and the Kentucky Derby normally have the top prize clock in at less than $2,000,000!

On Tuesday, August 13, 2019, just days after the infamous Knoxville Nationals in Knoxville Iowa which is normally the largest gathering of 410 Winged Sprint Cars in the country, we will attempt something that has never been done.  One race with a minimum of 18 cars and a maximum of 36 cars at Huset’s Speedway with the winner of this race becoming the owner of the entire Operation.  Yes, if you are the fastest, you will win the Track!  The 70+ acres of land, the track, the buildings, the lights, the name, the website, the billboards, the whole operation!

How’s it going to work:

(Again, this is all a preliminary draft and the official rules, processes and procedures will be released shortly.)

  • The cost per car in the race will be a non-refundable $200,000 deposit.
  • There will be a Minimum of 18 cars required to enter for the race to happen.
  • There will be a Maximum of 36 cars allowed to participate, meaning the worst odds possible of winning would be 1 in 36 and the best odds to win would be 1 in 18.
  • The clear title entire racing facility will be placed in trust with our partner trust company, Title Company & bank with the prestigious legal team of Meierhenry Sargent LLP in Sioux Falls, South Dakota handling the transaction.
  • Once the contracts are complete and the proper accounts set up, the drivers, race teams, sponsors, or individuals will be able to wire their $200,000 non refundable place holder into the title company to hold their spot in the race.
  • In the unlikely circumstance we do not hit the 18 participant number, then the race will simply not happen and the funds will be immediate returned from the trust company.
  • Entry will be on a first come first serve basis and when we hit 36 participants we will accept no more cars.
  • Open entry will be available from the time the contracts are ready to sign until exactly one week prior to the event happening.
  • Anyone entering AFTER the registration deadline would have to pay a $75,000 late entry fee if there are still any slots left in the race and they may do so with certified funds right up until the day of the race if there is room.
  • In case of a rain out, we have blocked off the next 2 days, (Wednesday and Thursday, August 14th and 15th) as rain dates.
  • The winner of the race will win the track. Second place wins $200,000.  Third place wins $100,000 and Fourth place wins $100,000.
  • The first 12 teams to sign up will also receive a VIP suite for their guests at the race with a retail value of $20,000 to include 20 tickets, the suite, food and beverages.
  • The winner will have the option to keep or sell the track to anyone they wish and will be able to work with the title and escrow company to take title to the property or assign the title to another person or entity.
  • This race will be open to the public and we will be posting information soon on the ticket pricing, suite pricing, VIP pricing and all you will need to know if you want to attend the race in person and see this historic event live.
  • We will be following all of the standard World of Outlaws rules for the cars when it comes to the specs and teching. The rules will be clearly posted and will be in line with industry standards and those ran at the Knoxville Nationals.
  • Our plan would be 3 heat races of 12 cars with 24 cars making it to the main race and that feature being 40 laps.
  • We look forward to help and assistance from all of the major racing leagues such as the World of Outlaws when it comes to judges, officiating, and running the entire event with the upmost fairness and integrity to all participants.
  • We anticipate 3-5 of the most experienced judges from all spectrums of sprint car racing to be the final word with full impartiality and fairness to any that enter.
  • We are confident that this will be the largest purse in racing history and plan to do everything in our power to make sure this race is up to the highest standards of the industry for that very reason from the preparation of the track to the safety of the drivers, race officials, judges, security, and fairness.
  • This will be the only event that evening. No other events, classes, races, or hoopla.  Simply the biggest and most important race ever.

This is real and this is not a test, a feeler, or a joke in any fashion.  We cannot wait for this race to happen and this legendary facility to find a new owner in the most appropriate way ever imagined…..  the track will go to the Best Racer’s Team!

There will be many more details coming soon.  AGAIN, This information is NOT YET OFFICIAL and we are working diligently with our legal team to release all of the official rules, processes and procedures via www.husets.com on or before Wednesday, June 19th at 5pm Central.

 

 

Huset’s Speedway | 2012 S Splitrock Blvd, Brandon, SD 57005 | (605) 679-3310 | [email protected]




oswald
June 15, 2019 at 12:31:16 AM
Joined: 11/30/2004
Posts: 1758
Reply

Crazy. 



sprintcarkelly
June 15, 2019 at 12:42:25 AM
Joined: 04/08/2005
Posts: 945
Reply

This is such a crazy idea, but would be great if it worked out! But how many teams have an extra $200,000 laying around to enter? 


Looking forward to the new Golden State King of the 
West series schedule! 

Winged sprintcars = the fastest and most exciting 
racecars on dirt! 


moparfarmer
June 15, 2019 at 12:42:31 AM
Joined: 09/03/2009
Posts: 360
Reply

I might have been born at night on a cold wintery day in February 1948 but anyone who believes this shit if dumber than a load of bricks..If it does happen good but there will be a caveat somewhere..Chuck Brennan is a con man who's made money but this can't be real..Look at the rules..

 



moparfarmer
June 15, 2019 at 12:48:27 AM
Joined: 09/03/2009
Posts: 360
Reply

If they get 36 cars at $200,000 they will make $7,200,000 less expenses..They actually might have a good idea if they can pull it off..



hardon
June 15, 2019 at 01:45:34 AM
Joined: 02/20/2005
Posts: 170
Reply

This is so exciting, I can't wait (sarcasm).  I think all of us know that this race will never happen.  My prediction is either the title company/bank/county/other investors won't allow this to happen, he's kind of already setting that up with "NOT YET OFFICIAL and we are working diligently with our legal team".  Or there's not enough cars, with an explanation something like "Once we made this official, we filled up all 36 slots within an hour with owners, drivers and sponsors begging us to expand the field but at the last minute everyone pulled out for (insert BS reason).

I'm sure everyone has already put the numbers together in their head but he will get between $3.6 million and $7.2 million if this race were to take place.  But the question I have is who is qualified to win this race AND have an interest in owning the place?  The obvious answer is Tony Stewart/Donny Schatz.  I say they're obvious since Tony Stewart has the money and owns Eldora, Since Schatz began racing here, maybe he has an interest in owning this track?  The other one would be Mark Dobmeier or someone associated with him.  But also maybe Terry McCarl?  So by my count this brings us between 3 and 8 cars maybe?  Do any of the PA teams have an interest in owning and running a track over a thousand miles from home?  Do any of the Knoxville regulars have $200,000 to throw away for a chance to own this track?  Maybe for Chuck, gambling $200,000 is no big deal, but for most of the people in this country people aren't willing to gamble $200,000.

My thoughts on some of his statement.

This information is NOT YET OFFICIAL.  

Then why say anything at all?

We have been aggressively trying to get the Speedway sold

Doing things like parking heavy equipment on the lot and threatening to tear it down because the tax write off was so great.

We have agreed to sell the facility several times and agreed to terms, but in every circumstance the deal fell thru as the buyers/posers were all talk and no dough!

When I think of the word several, I think of more than one, in fact I think of that number to be higher than ten.  Maybe I'm wrong but I only heard of terms and an agreement once.

literally the largest racing purse that we have ever been able to find in the history of United States Racing.  Even the Daytona 500, the Indy 500 and the Kentucky Derby normally have the top prize clock in at less than $2,000,000!

Ever heard of Trevor Bayne?  He got a 5 or 6 year career running in NASCAR, for winning a race that's more about luck than anything else.  Just because some guy changed lanes too early.

just days after the infamous Knoxville Nationals

I thought you'd never heard of Knoxville before purchasing Husets?  And if you heard the word Knoxville again you would puke?

There will be a Maximum of 36 cars

This makes absolutely no sense to me.  Why are you limiting yourself on the amount of money you can make?

The winner will have the option to keep or sell the track to anyone they wish and will be able to work with the title and escrow company

If you get the title free and clear, why do you have to work with the title company?

We look forward to help and assistance from all of the major racing leagues such as the World of Outlaws

I can see why they'd want to help you.  It's not like you screwed up a race for them less than a month before causing it to get canceled, then blame it on them on the internet.

For the people that are going to say "maybe he's serious, maybe he's finally sick of owning this place".  He has lied so many times.  I thought Steve Rueben had the last chance to buy it?  If he didn't buy it he was tearing it down?

Chuck if you're reading this (and I know you are).  I think I speak for all of us when I say I love Husets, it's the best racetrack I've ever been to.  But the shit show has gone on long enough.  There hasn't been a race there in 2 years and you can't let it go.  Either get rid of it or take your wonderful tax write off.




Shortie12
MyWebsite
June 15, 2019 at 06:06:40 AM
Joined: 12/11/2008
Posts: 425
Reply
Reply to:
Posted By: hardon on June 15 2019 at 01:45:34 AM

This is so exciting, I can't wait (sarcasm).  I think all of us know that this race will never happen.  My prediction is either the title company/bank/county/other investors won't allow this to happen, he's kind of already setting that up with "NOT YET OFFICIAL and we are working diligently with our legal team".  Or there's not enough cars, with an explanation something like "Once we made this official, we filled up all 36 slots within an hour with owners, drivers and sponsors begging us to expand the field but at the last minute everyone pulled out for (insert BS reason).

I'm sure everyone has already put the numbers together in their head but he will get between $3.6 million and $7.2 million if this race were to take place.  But the question I have is who is qualified to win this race AND have an interest in owning the place?  The obvious answer is Tony Stewart/Donny Schatz.  I say they're obvious since Tony Stewart has the money and owns Eldora, Since Schatz began racing here, maybe he has an interest in owning this track?  The other one would be Mark Dobmeier or someone associated with him.  But also maybe Terry McCarl?  So by my count this brings us between 3 and 8 cars maybe?  Do any of the PA teams have an interest in owning and running a track over a thousand miles from home?  Do any of the Knoxville regulars have $200,000 to throw away for a chance to own this track?  Maybe for Chuck, gambling $200,000 is no big deal, but for most of the people in this country people aren't willing to gamble $200,000.

My thoughts on some of his statement.

This information is NOT YET OFFICIAL.  

Then why say anything at all?

We have been aggressively trying to get the Speedway sold

Doing things like parking heavy equipment on the lot and threatening to tear it down because the tax write off was so great.

We have agreed to sell the facility several times and agreed to terms, but in every circumstance the deal fell thru as the buyers/posers were all talk and no dough!

When I think of the word several, I think of more than one, in fact I think of that number to be higher than ten.  Maybe I'm wrong but I only heard of terms and an agreement once.

literally the largest racing purse that we have ever been able to find in the history of United States Racing.  Even the Daytona 500, the Indy 500 and the Kentucky Derby normally have the top prize clock in at less than $2,000,000!

Ever heard of Trevor Bayne?  He got a 5 or 6 year career running in NASCAR, for winning a race that's more about luck than anything else.  Just because some guy changed lanes too early.

just days after the infamous Knoxville Nationals

I thought you'd never heard of Knoxville before purchasing Husets?  And if you heard the word Knoxville again you would puke?

There will be a Maximum of 36 cars

This makes absolutely no sense to me.  Why are you limiting yourself on the amount of money you can make?

The winner will have the option to keep or sell the track to anyone they wish and will be able to work with the title and escrow company

If you get the title free and clear, why do you have to work with the title company?

We look forward to help and assistance from all of the major racing leagues such as the World of Outlaws

I can see why they'd want to help you.  It's not like you screwed up a race for them less than a month before causing it to get canceled, then blame it on them on the internet.

For the people that are going to say "maybe he's serious, maybe he's finally sick of owning this place".  He has lied so many times.  I thought Steve Rueben had the last chance to buy it?  If he didn't buy it he was tearing it down?

Chuck if you're reading this (and I know you are).  I think I speak for all of us when I say I love Husets, it's the best racetrack I've ever been to.  But the shit show has gone on long enough.  There hasn't been a race there in 2 years and you can't let it go.  Either get rid of it or take your wonderful tax write off.



$200K to win that facility wouldnt be out of line.Tony ,Todd,Kasey, maybe Rubins or someone like Humpy  that could make it work.THe problem is the next 16 which makes it a lot tougher.Many racers would sell it for what the fair value is and Hussets would be alive.Not as crazy as it sounds  $100K buy in would be more realistic but still out of reach for the teams.



HoldenCaulfield
June 15, 2019 at 09:36:31 AM
Joined: 03/22/2008
Posts: 1676
Reply

LMAO I suspect this is a joke but even if it isn't, they will never get 18 teams to pay a $200,000 entry fee. 



RodinCanada
MyWebsite
June 15, 2019 at 09:37:47 AM
Joined: 07/24/2016
Posts: 759
Reply

IF this happens, and I think that shortie12 sees it all pretty clearly,  it wont be teams seeking the winning it will be interested owners hiring teams to win it for them. Aside from Tony Stewart who could try twice you have KKR who doesnt seem to show interest in race tracks but has a chance to win.

I doubt the WRG will permit any drivers to participate unless compassion overtakes them for the purpose of seeing the track become active.

I guess they could hire their own regulars to win it for them

 Think of this The Wrg and Tony get together after their bad blood and co sanction the race and the odds become one in 2 to own it. Both send 9 cars and the loser gets all the prize money and the winner gets the track.

1.8 million

I know the above is stupid but the thread kind of started out that way.

 


Even though I may not know you, I 
care what most of you think!


JonR
June 15, 2019 at 10:00:13 AM
Joined: 05/28/2008
Posts: 705
Reply

Someone on twitter asked the question about the taxes for winning.   I am not an accountant nor did I stay at a Holiday Inn Express,  but the numbers could be huge.   What the track is truely valued at is a great unknown, but if you go at the low end and say 3 million then the tax bill is somewhere over a million dollars (assuming 33% tax rate for easy  math)   If Chuck states the track is worth the 9 million that he has been asking, the tax bill is over 3 million.

With all that being said, I don't think that there is a single person willing to sign up for this race.  As was said on this board before on this topic, rich people didn't get rich by making bad business decisions. 

 



DakotaDude
June 15, 2019 at 11:12:44 AM
Joined: 12/19/2010
Posts: 214
Reply

Say I’m a potential track owner of Husets Speedway who paid the deposit earlier to be allowed to bid at the auction (if memory serves 3 persons did this) and I was willing to pay up to $6 million before. Be a pretty good deal to pay the entry fee of 18 cars at $200,000 per entry, thusly buying the track for $$3.6 million. Hmmmm....At the same tir d I’m so sad seeing my beloved Husets turned into a gimmick. 



Murphy
June 15, 2019 at 11:24:23 AM
Joined: 05/26/2005
Posts: 1413
Reply

A few thoughts, in no particular order:

Attention whores need attention.

When I was in junior high Cheech & Chong records were popular. My favorite Cheech & Chong quote applies to this idea: "You been smokin' too much dope man!"

We all know that the WoO will see to it that none of their drivers enter this race.

The tax thing- I think it works something like this: On paper, if 18 cars sign up for $200,000 each, then it looks like the winner just got a track worth $3,600,000. I believe the top end tax rate is 35%. 35% x $3,600,000= $1,260,000 taxes to the IRS.

For $3,600,000 would you put a guy into the fence?

The success of this event would be very dependent on the integrety of the guy puttin it on. (Oops!)

My opinion- it ain't gonna happen. But what do I know? I didn't think the Badlands Speedway thing would work out either.

 




revjimk
June 15, 2019 at 11:33:45 AM
Joined: 09/14/2010
Posts: 4959
Reply

$200,000 non refundable deposit?

I can't see 18 takers....



Points
June 15, 2019 at 11:29:27 PM
Joined: 12/01/2004
Posts: 206
Reply
This message was edited on June 15, 2019 at 11:30:09 PM by Points

Why doesn't he just sell the place for $1 MILLION.  He says he has $19 MILLION  into it so that leaves him a $18 MILLION Loss. That has got to be worth a good $6 MILLION in a tax write off. Sell it for what its worth and move on buddy.



egras
June 16, 2019 at 09:11:47 AM
Joined: 08/16/2009
Posts: 2315
Reply
This message was edited on June 16, 2019 at 09:12:41 AM by egras
Reply to:
Posted By: Points on June 15 2019 at 11:29:27 PM

Why doesn't he just sell the place for $1 MILLION.  He says he has $19 MILLION  into it so that leaves him a $18 MILLION Loss. That has got to be worth a good $6 MILLION in a tax write off. Sell it for what its worth and move on buddy.



I don't think the IRS would agree with his $19 million so his losses would not be anywhere close in their eyes.  

 

 

 

I don't see any way this race goes off.  However, some earlier posters have the same thoughts as I:

 

1.  Some of the big dollar team owners (you know who they are) form a union, pay for 18, and only the minimum 18 drivers they want in the show.  

2.  All of the drivers are operating under contract to turn the track over to the this corporation should they win.  Winner will be paid by the company for the win and 2nd through 4th get the prize money as advertised.

3.  Own the track as a corporation and pay someone (TMAC?) to promote it----like a big boy business.  

 

The track gets bought for 3.6 million.   I think the second this becomes official, they should pay for all 18 drivers immediately and simoultaneously-----making it almost impossible for him to back out of it.  

But, I doubt it will ever be official-----if it's even legit in the first place.  




3togo
June 16, 2019 at 09:27:44 AM
Joined: 06/14/2016
Posts: 206
Reply

Race Aid 2019



fiXXXer
June 16, 2019 at 09:45:32 AM
Joined: 10/26/2014
Posts: 1971
Reply

I don't know when or where this water head was conceived, but his dad should've jacked off that night.



RHC
June 16, 2019 at 11:38:03 AM
Joined: 12/07/2004
Posts: 418
Reply
This message was edited on June 16, 2019 at 11:38:31 AM by RHC
Reply to:
Posted By: Points on June 15 2019 at 11:29:27 PM

Why doesn't he just sell the place for $1 MILLION.  He says he has $19 MILLION  into it so that leaves him a $18 MILLION Loss. That has got to be worth a good $6 MILLION in a tax write off. Sell it for what its worth and move on buddy.



Chucky does NOT have $19 million invested in Husets.  He is exaggerating about that dollar amount.

He probably has around $5 Million invested, which includes the $1.4 Million purchase price from the Rubins 4 years ago.

Today, the race track purchase price is around $2 Million, or less now that the speedway has sat quiet for basically 2 1/2 years.

 




StanM
MyResults MyPressRelease
June 16, 2019 at 11:59:49 AM
Joined: 11/07/2006
Posts: 4385
Reply
Reply to:
Posted By: RHC on June 16 2019 at 11:38:03 AM

Chucky does NOT have $19 million invested in Husets.  He is exaggerating about that dollar amount.

He probably has around $5 Million invested, which includes the $1.4 Million purchase price from the Rubins 4 years ago.

Today, the race track purchase price is around $2 Million, or less now that the speedway has sat quiet for basically 2 1/2 years.

 



Whoever ends up buying that place would have to start from scratch.  Racers have all found other places to race and probably some said to hell with it and sold their cars.  


Stan Meissner

SprintFan16
MyWebsite
June 16, 2019 at 12:33:14 PM
Joined: 05/03/2007
Posts: 1338
Reply

Chucky Trump reinforcing how out of tune he is with the racing community.

I'm sure there are a shitload of teams that sit there and think "Gosh, I love this so much I think I'd like to own a track." 

It's too bad someone owns Dumbshit.com. Would make a fine monument to that waste of oxygen.





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