November 16, 2024
AUTO RACING

Racing may return to Unity Interest expressed in leasing racetrack

Unity Raceway owner Ralph Nason said there are “three or four people” interested in leasing his track which would return auto racing to the central Maine track soon.

Last week, Nason announced that racing would be suspended for at least this season, citing rising fuel costs and the fact nobody was interested in running it.

“There are two [separate] people who are very interested. I know them very well and I trust them. I had a meeting with one and a phone meeting with the other. The ball is in their court,” said Nason, who has owned the track since 1980.

He also said there were another one or two who showed interest.

One of the four interested parties wants to buy the track, but Nason said, “I’m not ready to sell it because you’d have a capital gains tax and that isn’t good for anybody except the government.”

Nason wouldn’t disclose the names of the interested parties but said he would like to see them sign a three-year lease.

“If I make the right deal with the right person, I’d be willing to apply the lease amount to the purchase price [if they wanted to buy it],” said Nason.

He wouldn’t divulge his asking price for the lease but did say the going rate is “$50,000-$60,000 per year and I’m asking for a lot less.”

“I’m convinced it could be a good deal for them if they’re willing to hustle and do some work. It’s definitely viable,” said Nason, who also owns Autodrome Montmagny in Quebec. He used to own Caribou’s Spud Speedway until selling it to Greg Veinote last year.

Nason added that Unity Raceway may not be as profitable a venture as it once was, but if the new lessee can keep a low enough overhead, “It could work pretty good.”

Last season, the track combined its entry-level Thursday night racing and Saturday night’s established racing divisions into a combined Friday night race card to allow families to have their weekends free for other activities.

Unity Raceway eliminated its expensive Pro Stock division in 2005.

Nason said he and his family will continue to improve the track, particularly earmarking the grandstand and “patching bad spots on the track.”

He said he doesn’t have time to run the track and nobody else in his family wants to run it, which he said he completely understood. His son, Ralph Jr., and daughter-in-law Angie had been running it after John Crawford finished his three-year lease agreement following the 2004 season.

“It’s a lot of thankless work,” Nason said.

lmahoney@bangordailynews.net

990-8231


Have feedback? Want to know more? Send us ideas for follow-up stories.

comments for this post are closed

You may also like