Klms

I haven't seen anything and was wondering if last weeks excuse that they had a fire was for real or were they having trouble getting cash together for the season.
 
I Spoke with a guy a couple of weeks ago that knows the situation at the track and he told me they are in serious money trouble. They have had the track for sale for some time with little to no success getting rid of it. He said he didn't think they where going to be able to get the bank off there back for long enough to get it running and if they did, didn't think it would last long. "Just what I was told"
 
It is a real shame what dispair KLMS has fallen into - the location and facilities are great. The 4am finale last time I was there was a disappointment but hopefully things turn around - the track has great potential.
 
From what I have been told KLMS does not have the money to start their season. I believe if they did, they would have started by now. Afterall, it does not make sense for them to wait after everyone else has started with the financial condition that they are in.

I want to add, that I do have some information about KLMS and a potential buyer that is lined up to buy the track. I would say that if KLMS does not start their season in the next few weeks, that the track will be sold. I cannot go into specifics, but I do have my hopes up. If this deal happens like I have been told it is, everyone in West Kentucky and in dirt racing in general is going to be pumped.
 
It was mentioned on a thread on 4M that the initial $3,000,000 loan also paid for a couple houses and some less illustrious financal issues. Even so, the Greers have been trying, even through Ebay, to sell the track for that same minimum bid of $3,000,000. The track is worth a lot of money but a wise investor knows that if there is financial problems they can probably wait and get the track for less, maybe much less.

Whether it happens or not I would assume that there are at least a few vultures circling.

There was absolutely too much initial investment and no outstanding capital left. If the track had been done in stages and then managed apporpriately the track could have been a powerhouse in dirttrack racing by now.
 
You must log in or register to reply here.




Back
Top