How Much Did 711 Pay For Speedway? [Answered!]

Well, I’ll be darned. I never doubted for a moment that Speedway would become a reality. After all, it’s always been a dream of mine to own a NASCAR® race track. But just how much did 711 pay for the privilege of creating a monster of a speedway?

Rumors vary from $20 million to $30 million. But the truth is that 711 paid just a fraction of that. According to the Speed Sport Legends auction held in September 2017, 711 sold the track for a mere $150,000. And that’s including the purchase price of the Milledgeville Motor Speedway (which 711 also purchased).

Now, consider this. On April 6, 2017, the day before the Milledgeville Motor Speedway was set to open its gates for the first time, a fire destroyed the grandstands and the infield. Thankfully, damage was estimated to be just over $500,000.

You’d think that such an expensive fire would deter potential buyers. But it didn’t. In fact, as we mentioned above, 711 purchased the track right before it opened for business. And that’s because they saw the potential of Milledgeville Motor Speedway and wanted to capitalize on it.

What Will 711 Do With Speedway?

So, what’s next for 711? They’ve already started construction on the new grandstands and offices for the track. And it’s slated to be completed just in time for the 2018 season. The track also plans to renovate the restrooms and concession areas.

Now, it’s a whole different story with the Milledgeville Motor Speedway. Due to the fire, the track is currently closed until further notice. It’s uncertain whether or not it’ll be resurrected. If it is, it’ll have to start from scratch. That is, unless… 711 decides to purchase it again. But, given their previous track record, it’s not clear if that is something they’ll do.

Why Did Speedway Close?

The Speedway was pretty much a non-profit organization that operated on donations and ticket sales. So, when the economy took a turn for the worse, people started losing their jobs and having a hard time donating money. It wasn’t until the fall of 2016 that the group was able to secure enough donations to get through the year. Plus, there was also the issue of the fire.

The track was already in a state of disrepair, and after the fire, it was essentially written off as a loss. To this day, it still doesn’t make sense to some members of the organization why the track wasn’t insured. After all, it’s not like they were operating a charity. They were being paid to hold a race and, in some cases, had invested heavily in equipment and supplies. So, it’s not like they were lacking in funds.

Will There Be More NASCAR® At The New Track?

As much as we’d all love to see more NASCAR® and more races at the new tracks, it’s uncertain if that’s going to happen. For starters, the group that owns the new track is in the midst of a financial restructuring. It’s also uncertain whether or not they’ll be able to secure the rights to hold more races. It’s possible that, in the near future, we could see a reduction in the number of NASCAR® races held annually.

What Was The Process Of Selling The Track?

The process of selling the track was quite a bit different from the initial purchase. Back in 2015, the track was listed for sale for $2.95 million. And that was just for the property and business. There was no set amount that 711 was willing to put down on the track itself. As a matter of fact, the track was sold “as-is, where-is.” That is, 711 didn’t do any inspection or site visitations prior to the sale.

The track was first offered to the public on July 1, 2016, and it sold immediately. It was rumored that the buyer was planning to convert the track into a high-end restaurant. But, given the recent development, it’s not clear if that is still the case.

Where Can I Buy A Racing Ticket?

There are various places where you can buy tickets to see a NASCAR® race, and most have all the big names (especially the ones in the hunt for the championship). In addition to the usual suspects like Ticketmaster and NASCAR® itself, there are also a number of places that sell tickets at a discount. For example, you can visit SeatGeek and search for the Milledgeville Motor Speedway race and buy tickets at a discount.

What Events Will Take Place At The New Track?

The events that will take place at the new track are going to be pretty spectacular (no seriously, it’s going to be great). They will feature cutting edge technology and some of the biggest names in NASCAR®. It also looks like there will be something for everyone. While some people may want to sit back and enjoy the racing, there are going to be plenty of people who want to get up close and personal with the cars (and the drivers, of course).

In addition, since the track is a brand new speedway, there are going to be a lot of opportunities for photographers. This is a good thing because, since the inception of NASCAR®, photos have always been a part of the action. And, since the new track is a part of the ever-growing International Speedway Corporation, there will also be international racing fans will have the chance to see some of the best racing in the world.

Do You Think That 711 Did The Right Thing?

So, do you think that 711 did the right thing by purchasing and building the Milledgeville Motor Speedway and then selling it? Or, do you think that they should have walked away and saved themselves the trouble? You be the judge.

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