Owner: If no sale, no rac­ing at Lan­caster

Reger says no fair of­fers have been made

The Buffalo News - - SPORTS - By Larry Ott SPE­CIAL TO THE NEWS

Lan­caster Speed­way owner Gor­don Reger has not changed his stance that if he does not sell the Gun­nville Road dual stock car/drag rac­ing fa­cil­ity there will be no rac­ing, but he has not given up hope even as the usual start of the rac­ing sea­son draws near.

Reger told The News that he is talk­ing to three prospec­tive buy­ers and is tak­ing steps to try to as­sist with a tran­si­tion should a sale hap­pen.

Lan­caster typ­i­cally opens its rac­ing sea­son in very late April or early May. The track has pre­sented mo­tor­sports com­pe­ti­tion al­most con­tin­u­ously since it first opened in 1959.

“If I had a dol­lar for ev­ery ru­mor that I have been told or that I have heard about the sale of this track over the last few months, that would be plenty enough money for some­one to buy my track,” Reger said. “Here’s where it’s at. Cur­rently I have three par­ties I am talk­ing to that have ex­pressed an in­ter­est to me in want­ing to buy my track. What needs to be stressed, how­ever, is as of yet not one of them has come for­ward and made an ac­tual of­fer.

“Ear­lier this win­ter, I had a party that was in­ter­ested but low­balled the price and I’m not going to sell this track for anything less than what I feel is fair mar­ket value. So far, no one has come for­ward and of­fered me the price I feel is fair. That’s es­sen­tially why there has been no sale.”

Reger de­clined to dis­cuss the price he is seek­ing or the specifics of the pre­vi­ous of­fer.

He said that he has no dead­line for how long he’ll wait for a sale to be made. When asked if he would de­mol­ish the track with­out a sale, Reger said that he is not look­ing to do that at this time.

Reger has owned Lan­caster for most of the last two decades. From 2016 un­til the con­clu­sion of last Septem­ber, Tim Pack­man worked for Reger as his track pres­i­dent and helped to bring the track back to some pros­per­ity with in­creased car counts and fan at­ten­dance. Pack­man left af­ter his con­tract was up at Lan­caster last fall to pur­sue other ca­reer av­enues, even­tu­ally be­com­ing pres­i­dent of Mem­phis In­ter­na­tional Race­way.

Reger de­cided last fall to sell the track rather than re­place Pack­man.

He said he is get­ting es­sen­tial items in place that a new owner would need in or­der to open the track in case a deal can be struck for this sea­son.

“Al­though I will not op­er­ate the race­track my­self this sea­son if I still own it, I am in the process of se­cur­ing all the op­er­at­ing per­mits that the new track owner would need to open the track in a timely fash­ion,” Reger said. “It would be a turnkey op­er­a­tion sit­u­a­tion that would al­low the new owner to open the track in a much quicker and smoother tran­si­tion. The fact that it would be turnkey is im­por­tant.”

If Lan­caster were to close, it would be the sec­ond lo­cal track to shut down within the last two years. For a va­ri­ety of rea­sons, in­clud­ing dwin­dling car counts and spec­ta­tor at­ten­dance, Lit­tle Val­ley Speed­way closed af­ter its 2017 sea­son.

While the odds at this point ap­pear slim for Lan­caster to open again, Reger said he re­mains hope­ful a sale will hap­pen and rac­ing can re­sume.

“What I want to say to the rac­ing pub­lic is that I know how much the track means to many peo­ple, but I don’t want to run it any­more,” Reger said. “My sin­cere hope is that I can find a buyer who is will­ing to of­fer a fair mar­ket price and that the sale can be done so that rac­ing can con­tinue to run there for many years to come.

“I just need some­one to give the right of­fer and then it can hap­pen. We’ll see.”

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.