Another Big Drag Strip in Trouble
 

This month's Mopar Collector's Guide has an article that states that Gateway Intl. is in financial trouble and is struggling to find a way to keep the strip open.

Scott Sievaking told MCC that the track has "on going financial issues....".

Could we be losing another large venue?

JimR

Re: Another Big Drag Strip in Trouble
 

Well...Richard Schaefer, the former Events Director at Gateway left to take the Division 2 Director position. Maybe it was a better opportunity or maybe there is a bigger problem with Gateway than he thought they could overcome.

Re: Another Big Drag Strip in Trouble
 

Gateway is already gone, NHRA pulled their events last month.

Re: Another Big Drag Strip in Trouble
 

Dover Motorsports owns Gateway. They are the same people that own Memphis and it closed down last year or so. NHRA didn't pull the events, the track did. They did the same with both of their NASCAR events. I would say that the writing is on the wall if they canceled the three biggest events they have there all year. They can't possibly stay open without them. I did read that Dover Motorsports said that it is the round track that loses money. They said the drag strip does ok. They are considering leasing the dragstrip to someone and leaving the round track closed. If they do that it wont be in time for 2011 but there is a strong possibility that NHRA will be back for 2012. This was on Competition Plus's web site. Let's hope this is true. This is a great place and it is only 2.5 hours from my house. I would like to see a National Event and a points race there. This track is way nicer than a few of the others we have points races at.

Re: Another Big Drag Strip in Trouble
 

I read that Gateway's TAX BILL was around EIGHT MILLION $$$$$ a year !!
Go ahead and try to show a profit with that !!

Re: Another Big Drag Strip in Trouble
 

The published article a month ago said Gateway chose not to renew with NASCAR, and sent those races to their track here in Tennessee. It said they were hoping to run the NHRA events. Then their National Event was not on the schedule.

NHRA moved the Memphis race back to August, knowing full well the last time it was held in August they hauled spectators out in ambulances from the heat about every 2-3 hours. Once they moved it to August, it was dropped.

Dover Downs is losing money. I don't expect the Tennessee track, right down the road from my house, to last more than maybe a year.

Although, someone said that the lights were back on at Memphis, and there was a cleaning crew or something there.

Completely closed racing facilities do not bring squat, I'm not sure Gateway would have just given up their NHRA races if they made money. It looks more like NHRA felt they weren't stable, and pulled the plug.

Re: Another Big Drag Strip in Trouble
 

I raced with Gateway untill their 3rd bracket race this year then I switched over to Chandler. I have raced there for over 5 years now since moving back to the midwest. My understanding of the deal with Gateway is just like any big stadium that gets built weather it be for NFL,NHL,NBA Ect. The original builder got the state to issue bonds to build it and then the track has to pay so much back each year for so many years to cover the bonds and thats where the 8 million comes in. Hell if It were just 1.5 million to own it I would buy it right now and sell the grandstands in the circle track for scrap and get my money back and own it for free. The two big problems they face are the payments to the state and the fact that from looking at the plat book, part of the dragstrip shutdown area and turns 3&4 are owned by someone else and are on lease to Gateway. Who in their right mind buys something that they dont own all of it and have huge outputs and are struggling to sell seats. I dont know who it will be but I hope someone does it as its the nicest track around here and the only 1/4 mile stuff without drive 3.5 hours plus. I am up here at the Div3 finals in Indy and over at the section of grandstans reserved for gateway they have a big sign for Gateway and then a even bigger sign that reads "FOR SALE" and all their team shirts say "last call" on them. I talked to Rich Schafer via email yesterday and he really wanted to try and turn it around but with all the uncertainty surronding the place right now can you blame him for doing the right thing for his family and having some security for them.