Badlands deal falls through
By:
Staff report
Badlands Motor Speedway is back on the market.
The 30- to 60-day deadline to line up financing in the purchase of the speedway has come and gone, with no word from prospective buyer Steve Rubin regarding the transaction.
On Dec. 27, 2018, Badlands owner Chuck Brennan announced on the speedway’s website that he and Rubin had reached a purchase agreement. The announcement came one day shy of Brennan’s threatened cutoff date by which to sell the 80-acre racetrack or demolish it.
Brennan reportedly agreed to Rubin’s request for an extended deadline of 30 to 60 days to arrange financing and investors for the $6.29 million purchase.
That deadline has passed, and according to badlandsmotorspeedway.com, the racetrack is once again for sale at its original asking price of $9.45 million.
Rubin, who operated the racetrack as Husets Speedway for 28 years before selling to Brennan in 2015, could not be reached for comment last week regarding the transaction.
The Dec. 27 announcement also stated Rubin planned to start racing operations this spring under the legendary Husets Speedway banner, and both parties agreed that if fundraising efforts were not met within the extended time frame of the purchase agreement, the facility would be demolished at that time.
Badlands Motor Speedway held its last race May 13, 2017, and Brennan listed the property for sale at $9.45 million. On Sept. 15, 2018, Brennan attempted to auction off the speedway for $3.15 million, with no bidders.
Two days later, he announced Badlands was back on the seller’s market for $6.29 million and would be demolished if not sold by Dec. 28, 2018.
The racetrack is located just south of Brandon on Hwy. 11.
