Potential Nazareth Speedway Buyer Backs Out Of $19M Purchase

ISC’s planned $19M sale of the Nazareth Speedway property fell through because potential buyer Brookside Realty “decided that government support for developing the site wasn’t likely,” according to the AP. The site is still for sale. ISC suspended the track’s operations after the ’04 season, and ISC Senior Investor Relations Analyst Lenny Santiago said that there are “no plans to resume operations while looking for a buyer” (AP, 7/6).

Brookside Realty Drops Nazareth Speedway Deal Over Government Support Issues

MAGIC TOUCH? In Boston, David Exum reports with New Hampshire Int’l Speedway (NHIS) Owner Bob Bahre and his son, NHIS President Gary Bahre, “battling health problems, speculation has been rampant about” ISC acquiring the track. But Bob Bahre said, “There is absolutely nothing going on with anybody, and there is no truth whatsoever to any of these rumors.” ISC Dir of Communications David Talley said that he “wasn’t aware of any plans for [ISC] to purchase NHIS.” Talley: “We are always looking to expand our portfolio but I haven’t heard that” (BOSTON HERALD, 7/6).

TO THE THIRD POWER: ISC last month announced plans to build a $250M track in Kitsap County (WA) near Seattle, and Washington state Sen. Tim Sheldon said that “one idea under consideration is to create a public facilities district for the track that includes not only Kitsap County but also King and Pierce counties.” ISC CFO Susan Schandel said that the company “has only held discussions with Kitsap County” and that it was “too early to say what the financing proposal will ultimately look like.” Grant Lynch, President of ISC subsidiary Great Northwest Sports, said that “no new taxes will be needed to fund the project,” but has not commented on whether revenue from existing taxes might be used (Eric Engleman, PUGET SOUND BUSINESS JOURNAL, 7/1 issue).