The current owner threatened to tear down Huset’s Speedway if it wasn’t sold by the end of 2018
If funding falls through, both parties have agreed to the demolition of the speedway
Steve Rubin owned and operated the track formerly known as Huset’s Speedway. The .375-mile track is located in Brandon, South Dakota.
In 2005, Rubin sold the track to Chuck Brennan. He renamed the track Badlands Motor Speedway.
Shortly after, the track was closed due to a state law that went into action. That law had nothing to do with the track itself. However, it did shut down an entirely different business.
Chuck Brennan: Dollar Loan Center
Brennan is the owner of the Dollar Loan Center. In November 2016, a bill was passed that limits short term loans to 36% APR.
The Dollar Loan Center felt they were in compliance with the new law. However, the South Dakota Division of Banking thought otherwise and revoked their lending licences.
The Dollar Loan Center continues to operate in Navada, Utah and California. However, Bennan pulled all of his other business operations from South Dakota. He put up a full list of properties for sale from race tracks to radio stations.
Badlands Motor Speedway was one of those properties that went up for sale in 2017. This came following a claim of $10 million in renovations to the complex.
This year, the current track owner Chuck Brennan threatened that he would be forced to tear down the track if it was not sold by the end of 2018.
Now, an agreement has been reached between the older owner of the track and the current owner. Steve Rubin and Chuck Brennan have reached an agreement, pending financing.
Read the full announcement from the speedway below:
Badlands Motor Speedway: Announcement
Badlands Motor Speedway Ownership is pleased to announce that we have reached an arrangement with legendary Racing operator and Race Promoter Steve Rubin.
The track was originally purchased from the Rubin Family before millions of dollars of renovations were made to the facility. Mr. Rubin operated Huset’s Speedway for over 28 years and is considered one of the most knowledgeable racing promoters in the nation.
Rubin has requested 30-60 days to arrange the financing and investor group to keep the 60+ year National Treasure open and plans to start racing operations this spring under the legendary Huset’s Speedway Banner with the season opener being Memorial Day Weekend.
In addition to a full racing schedule, fans can expect to see concerts and special events of all kinds at the largest outdoor venue in the state of South Dakota on nearly 80 acres and with a capacity of over 20,000.
We are thrilled to see the Rubin Family back at the helm in Brandon at Huset’s Speedway. We are confident that Brandon, Race Fans, Race Teams and millions of others will enjoy the facility for another 28 years or more under the direction of Mr. Rubin and his family.
It has been agreed upon by both parties that if the fund raising efforts fall thru that the facility would be demolished and discontinued at that time. Right now we are not accepting any other offers.
More
Bedlands Motor Speedway is up for sale
Links
Badlands Motor Speedway | Dollar Loan Center
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