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stefanikfan
07-17-2007, 07:52 PM
A coworker heard on the news thismorning that the 'bowl and the rest of the property was up for auction very soon. He didn't get all the details but he did say that potential buyers had to have $140,000.00 upfront.

Any truth to this? I'm sure it's true, but I was under the impression that everything was all good with the "New Waterford speedbowl".

Guess not...

Rob,
aka, Stefanikfan.:(

curious
07-23-2007, 10:59 AM
I heard that the last race is this upcoming weekend. Whether there is any truth to that or not, I don't really know. I found this online:

Tuesday 07/17/07
Speedbowl Faces Foreclosure: Waterford Speedbowl is facing a foreclosure auction July 29, but the track's owners are optimistic they will have finances in place to avoid the sale. Terry Eames, who heads 1080 Hartford Road LLC, said an agreement to sell a portion of the property to Harvey Industries is in the final stages and plans for refinancing the Speedbowl are in place to avoid foreclosure by Washington Mutual Inc. "We will be able to pay off the debt involved in front of the foreclosure in front of the auction," Eames said. "Obviously we wanted to have this done before we reached the point of [the bank] scheduling the auction, but that didn't happen. The court need moves along according to schedule with the foreclosure proceedings. The Hartford Courant-Shawn Courchesne

Here's the link to Shawn's article http://www.courant.com/sports/motorracing/hc-waterford0717.artjul17,0,3908334.story

Howie
07-23-2007, 01:16 PM
I was at The Bowl Saturday nite and you hear all kinds of stories from gloom and doom to everything will be fine. I guess we will have to wait until the 29th and see how it unfolds. I'm hoping that one of the good scenarios comes true and The Bowl is around for a long time. I was disappointed by the low car counts and half empty pits though. Hopefully things will get back to normal and car counts will built up again.

BTW...good to see you back curious, haven't seen you at the track in a long time.

stefanikfan
07-24-2007, 10:00 PM
I was there too on Saturday night. Hopefully they can pull it off. The Speedbowl is my local speedway and I enjoy going to the 'bowl on a nice Saturday afternoon to watch my buddies race, hopefully everything turns out ok but it looks bleak to me.

I saw you there Howie, I wanted to say hi but you were chatting with someone near the burger stand.

Rob,
aka, Stefanikfan:cheers:

The Bullfather
07-24-2007, 10:59 PM
I plan on going there for their wed. show on the 8th if it's still open. I have vacation that week. I wanted to go to Waterford, Thompson and Stafford. Stafford for the 150 Whelen race. Ohhh what a vacation! :)

Howie
07-25-2007, 01:08 PM
I just got word that the Speedbowl auction has been cancelled and that racing at the Bowl is safe for the foreseeable future. Don't have much more info but that sounds like good news to pass along. Watch for more later.

RGeeProductions
07-25-2007, 01:17 PM
Thanks Howie for the info.
It is VERY good news.....

CynthiaTork
07-25-2007, 02:27 PM
That's without a doubt great news.

Axel
07-25-2007, 03:58 PM
awesome! Waterford is my favorite CT track.

Teds Race Tours
07-25-2007, 04:38 PM
Awesome news. My friends and I are looking at the Sept TVMRS race at Waterford!!!

bucket67
07-25-2007, 05:15 PM
Don't jump the gun everyone.It still isn't official yet that the auction is off.According to Terry Eames on Shawn's blog things look possitive that the auction will be stopped but nothing is definate yet.

The Bullfather
07-25-2007, 06:21 PM
Yeah, I get to go!

CynthiaTork
07-26-2007, 08:56 AM
According to Shawn's blog this morning, it appears the rumor of the auction cancellation is a false one.

Howie
07-26-2007, 11:45 AM
The information I received was from a reliable source. At 8am Wednesday there was a deal made and the auction would be cancelled. By the end of the day someone apparently backed out and the auction was on again. They seem to feel confident that a deal will be made and the auction won't happen. I'll wait until after the scheduled auction time before posting anything again. This situation seems to change hourly. Just hope for a happy ending and Waterford to prosper again.

The Bullfather
07-26-2007, 06:29 PM
ugh their holding my up my hotel reservations! I guess I'll have to wait a few days. I haven't been to Waterford Speedway Bowl and always wanted to go and check it out. I know about the track and it's constant left turn, I wanted to catch some kinda show there!

CTScribe
07-27-2007, 01:27 PM
Just read on Shawn's blog that the auction scheduled for Sat. has been officially cancelled.

It appears that 2 private individuals have loaned money to Eames & his partners and that Washington Mutual Bank no longer owns the mortgage on the property.

YAY!!!!:applause:

ShawnCourchesne
07-27-2007, 02:42 PM
It's Official: Foreclosure Auction Avoided At The Waterford Speedbowl (http://blogs.courant.com/autoracing/2007/07/its-official-fo.html)

More On The Deal To Avoid Foreclosure Of The Waterford Speedbowl (http://blogs.courant.com/autoracing/2007/07/more-on-the-dea.html)

The Bullfather
07-27-2007, 04:55 PM
YEAH!!!! I'm going to Waterford Speedbowl!!! Great news to hear that it will remain open for future racing.

CTC Photos
07-27-2007, 06:36 PM
ugh their holding my up my hotel reservations! I guess I'll have to wait a few days. I haven't been to Waterford Speedway Bowl and always wanted to go and check it out. I know about the track and it's constant left turn, I wanted to catch some kinda show there!

I grew up going to either Waterford or Riverside on Saturday nights. You will have a good time at the Bowl, great little track...IMO, was better when the BIG bump was in turn 1...but still a good track.
There used to be a guy down there named "Screech" or something of the sort who drove a bright blue #711 street stock who would hit that bump every lap looking out of control. My Dad and I would laugh about his "line" the whole race.