It appears as though Spud Speedway in Caribou will have racing this summer for the first time since 2000.

Greg Veinote of Newburgh has reached a verbal agreement with owner Ralph Nason to purchase the 48-acre facility.

Neither Nason nor Veinote would disclose the financial aspects of the deal, but Nason had lowered his asking price from $125,000 in 2003 to $75,000 last year.

Veinote is hoping the deal will be officially consummated within a week. He would like to begin racing in June.

The 42-year-old Veinote said he and his wife, Becky, are “at a point where most people are looking to buy a camp on a lake. For us, this will be our camp on a lake.”

Veinote began racing at age 15 and last ran in the Pro All Stars Series Modified tour two years ago.

“I have racing fuel throughout my veins,” quipped Veinote.

He said the facility needs work, but the track itself is in “real good shape.”

“It’s in a lot better shape than a lot of the other tracks,” said Veinote, who manages F & S Transportation in Plymouth. “The snow pack up there keeps a lot of frost out of it. The judges’ tower will have to be rebuilt. A lot of brush has to be cut and a lot of grass has to be mowed. It needs a lot of visual improvements.

“But the people up there have welcomed it and have offered to donate their time to give us a hand.”

He plans to have three entry-level divisions to start: enduro (four-cylinder) for 13- to 16-year-olds that will be called the Young Guns class, enduro for adults which will be called the Northern Lights division, and a class for six- and eight-cylinder cars.

He indicated he will probably have racing every other Saturday afternoon initially and is hoping to hold motocross (motorcycles on a dirt track) and ATV races on the alternate Saturdays. He also intends to have a weekend in August or September with four-by-four truck racing on a dirt track, a tractor pull, and a mud run.

In winter, he would like to hold snowmobile races.

“You have to be diversified in that [Caribou] area,” explained Veinote, who wants to create a family atmosphere at the track.

He intends to keep admission prices down – an adult ticket will cost $5 – and hopes to bring the Mini-Cup and Vintage Car series to Caribou.

Veinote said the expense involved with pro stock racing makes it cost prohibitive for Spud Speedway.

“That would be insane. I know what it costs to run a pro stock car,” said Veinote, who used to race in that division. “You would have to pay $1,500-$2,000 to win and that would mean charging $12-$15 a head [admission] to support it.”

Veinote said the success they have had at Hermon’s Speedway 95 during their entry-level Wacky Wednesday racing is “what we’re looking at for up here.”

Nason said he was “really happy” for Veinote.

“He’s excited about it. It’s a good opportunity for him,” said Nason.

He added that the entry-level racing proposed by Veinote is the right format to pursue.

He also agreed with Veinote’s decision to turn it into a multi-purpose facility.

“There’s room for that,” said Nason.