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Old 04-12-2011, 10:58 PM   #1
Tricki
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Liberty Motor Sports Park

With the great news of MotoGP coming to the new Austin track makes me wonder whatever become of Liberty Motor Sports Park in Cleveland? Did they run out of money?

http://www.libertymotorsportspark.co...-the-track.php
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Old 04-12-2011, 11:05 PM   #2
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Old 04-12-2011, 11:17 PM   #3
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Quote:
Originally Posted by Tricki View Post
With the great news of MotoGP coming to the new Austin track makes me wonder whatever become of Liberty Motor Sports Park in Cleveland? Did they run out of money?

http://www.libertymotorsportspark.co...-the-track.php

Found This:

Quote:
Liberty Motorsports Park is approaching its final delay in the effort to start construction. During December, Liberty Motorsports Park management and the primary equity partner worked to complete contracts that would have started construction for the much-anticipated Cleveland, Texas facility. However, the discussions halted and both parties stopped negotiations.

“The good news is that we had several ‘back-up’ investors ready to assist the project. The Christmas holiday unfortunately prevented work with these groups to transparently take place as would have occurred under normal circumstances,” said Marcus McBain, Liberty Motorsports Park president.

“Supporters of this project would not have known anything occurred past a small delay had this been any other time of the year. We have communicated to the mayor the progress and status of our negotiations as well as who we are working with. Within the next several weeks, we should have our final partners put together and be able announce our final construction schedule,” he said.

Although it was a very difficult decision to take this course of action, Liberty Motorsports Park President Marcus McBain reflected, “It was a very rough decision to make. We believe with the contract provided by our equity partner we would have been able to start the project, but I was very concerned about the ability to complete the project with the structure proposed to us. This should have not been a significant situation as we had several back-up funding sources, but the falling of events at Christmas time left the project in a difficult situation to pick up with our secondary funding sources.”

For all intents and purposes, no business was conducted from the time the Development Agreement with the City of Cleveland was signed until the first week of January 2008.

McBain said, “frustration” is the only way to describe the situation.

“The entire management team worked through Christmas trying to complete the project, but you are just not going to get a deal of this nature done during such a time. We want to thank SCS General Contractors for working with us. Although we were not able to conclude a deal that both sides had envisioned, I believe we walked away from the negotiating table with an understanding of each party’s position. I can’t fault either side for not being able to finish the deal. We’ll move on now. I have communicated to the mayor the status of the project and whom we are working with. We are excited, as we believe the long-term health of the project will be significantly stronger with the parties we are engaging. We are on track for closing within 30 days,” said McBain.

He also hopes to remind everyone that LMP is still meeting its project requirements and a big portion of that included the completion of a $50,000 payment to the city to ensure that costs for city lawyers, studies, etc. were paid for by Liberty Motorsports Park, not the taxpayers.

“At this time, we know that with 100 percent certainty the project will start soon. We thank the City of Cleveland and Liberty County officials for their tremendous help and support of this project. They have provided us the required assistance to ensure we will meet all of the projects goals,” said McBain.

Updates will be posted on the Liberty Motorsports Park website (www.libertymotorsportspark.com) and the Cleveland Advocate.
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tejano? Rape me
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Old 04-13-2011, 12:56 AM   #4
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hmmm so what your saying is that it ain't gonna happen.. LOL
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Old 04-13-2011, 01:14 AM   #5
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He should have stuck with his suspension business, he was good at it.
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Old 04-13-2011, 02:54 AM   #6
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whomp whomp whomp
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Old 04-13-2011, 08:05 AM   #7
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???? is this the same track ?????

http://www.kvue.com/news/Major-F1-de...119739529.htmlAustin USGPF1 1 599x404
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Old 04-13-2011, 08:23 AM   #8
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Yes that would have been it...
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Old 04-13-2011, 04:44 PM   #9
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I heard........................ it is still a Go!?!?
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Old 04-13-2011, 06:08 PM   #10
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3.4 miles, thats alot of asphalt
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Old 04-13-2011, 06:26 PM   #11
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in my opinion, with 3 years with no track on the near horizon, and the MotoGP track in Austin, is gonna make this pretty much impossible to pull off. Too bad, but there's track poppin up everywhere these days.
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Old 04-13-2011, 10:00 PM   #12
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It's been in the works for a long time. Since before MSR Houston was constructed. I think that was back in 2005. Would have been nice to see it completed.
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