Tuesday, March 8, 2011

NJMP (New Jersey Motorsports Park) - Bankruptcy

March 8, 2011 - 1:00 PM: Hot off the presses, the Press of AC that is, is that our home track New Jersey Motorsports Park, has declared bankruptcy. According to all the reports about it, it should not affect the 2011 racing season, which is great news as it's hosting the 24 Hours of LeMons in April.
The Press says : The filing for Chapter 11 bankruptcy protection — less than three years after the park opened — will allow for debt restructuring and the addition of new equity that operators say will allow the facility to remain open.

This is good news and maybe bad news, I don't know, I'm not an accountant... What I do know is that if they're in need of a couple good managers that love racing and will take less than whatever they're giving their current crop, look no further than TDH.

Update: March 9, 2011 - What are people thinking?

After reading a bunch of articles yesterday about  the bankruptcy filing yesterday a few things have become clear.
  1. There are people in the Motorsport community who think the track should be shut down.
    • Shame on you, Asphalt and Rubber.
  2. Even though the track has provided an economic benefit to the surrounding communities; neighbors don't like it because of the noise.
    • Yet they won't dare complain about a neighbor's Harley Davidson, or Leaf Blower, or Snow Blower, etc. Grow up.
  3. The Millville Rescue Squad should be an ally; not an enemy.
    • While we acknowledge the life saving and critical nature of the services provided by the Rescue squad - perhaps it would have been prudent of them to help promote the park, which is clearly a source of income for them. Instead, they sat around and waited for payments to dry up. 
    • City officials are upset that project has hit a snag, but won't do much of anything to help.
      • NJMP can and should be a premiere destination for local, regional, and international Motorsports. It's current lack of grandstands needs to be made up with enthusiastic petrol heads who want to race, want to watch racing, and will support their local track.
    These are our thoughts right now, we'll be covering this more as the race season unfolds. Please share your thoughts with us below in the comments or via email.


    1. It's too expensive to race there!

    2. Where is it not expensive to race?? Between getting a car good to run and actually running it, I'd venture to say it's all relative and expensive regardless. You can piggyback on different car clubs and run track days kinda cheap I've found. Either way racing is a brutal on any bank account. It'll even cost a few grand to run a Lemons ride... Donations anyone???

    3. HA! Yes, you're right. I was just trollin' ya. I don't know much about NJMP, but it definitely does sound like they need better managers.

    4. You're more than welcome to join the swine and I as we take over and clean house up there... so long as NJMP knows we're doing it... minor details.