Sale Delayed Of Cleveland Motor Speedway

Thursday, December 19, 2013

Bankruptcy trustee Jerry Farinash has delayed until Jan. 9 any action on the sale of the Cleveland Motor Speedway property.

He said he was not yet ready to go forward on executing a contract with Chattanooga developer Marcus Lyons to buy the property at 2420 South Lee Highway for $1.1 million. Mr. Lyons is president and CEO of Lyons Group, Inc. and has been involved in multi-family and commercial real estate over the past several years. 

Attorney Farinash said, after a brief appearance before Bankruptcy Judge John Cook, that he has had several offers on the 22-acre property. He said 18 acres are at the speedway site and four acres across the road.

He said there has also been interest from some in keeping the speedway in operation. But he said the property is so run down that it would be expensive to both buy it and then carry out needed updates.

He said some of the acreage may be taken for a planned new roadway. He called that a plus for the strategically-located property.

The Cleveland Speedway has been in operation since the early 1950s and has been holding races this aseson.

It was operated at one time by legendary NASCAR star Joe Lee Johnson, who won the first World 600 at the Charlotte Motor Speedway in 1960. 

The 1/3-mile clay oval was operated by Monty Morrow and Ronnie Willkomm from 2004-2011, and Mr. Willkomm is the current owner.

It went into bankruptcy in 2011.

Latest Hamilton County Jail Booking Report

Here is the latest jail booking report from Hamilton County: ADKINS, GREGORY SCOTT  401 EASTERLY CIRCLE ROCKY TOP, 37769  Age at Arrest: 39 years old Arresting Agency: Chattanooga Booked for Previous Charges or Other Reason(s) --- BILLS, JOSHUA TIMOTHY-MICHAEL  1309 DUNCAN AVE CHATTANOOGA, 37404  Age at Arrest: 24 years old Arresting Agency: ... (click for more)

Corker Gives Statement Ahead Of Affordable Care Act Open Enrollment

Senator Bob Corker on Thursday released the following statement ahead of Affordable Care Act open enrollment, which begins Nov. 1.   “The Affordable Care Act was sold to the American people as a way to bring down health care costs and provide certainty to individuals and companies across our country. Unfortunately, the reality Tennesseans will face as open enrollment ... (click for more)

Accountability Doesn't Have To Be A Bad Word

Am I making a difference? Isn’t that the basic question we all ask ourselves, and seek to demonstrate to others?  Ronald Reagan said:  “Some people spend an entire lifetime wondering if they made a difference in the world. But, the Marines don't have that problem.”   We would argue teachers do not have that problem either.    Educators make a huge difference ... (click for more)

Roy Exum: Guess Who Backed Kelly?

Two weeks before the August election where three members of the Hamilton County School Board were angrily replaced, the organizer of what was called “a great way for the (challengers) to raise great money to help them run smart campaigns” made a bold statement. “I'm sure the current board is well-intentioned, but the results are not there," said Paul Brock. "Leadership matters ... (click for more)

CPA Blanks CCS, 1-0, in A-AA State Soccer Semis

MURFREESBORO - The scoring opportunities were few for both teams, but Christ Presbyterian used a shot and a deflection off a defender for a 1-0 win against Chattanooga Christian in an A-AA state semifinal match here Thursday at the Richard Siegel Soccer Complex. District 12 player of the year Sarah Sievertsen scored the winning goal in the 54th minute as the Lions advance ... (click for more)

DeBord Happy To Have Kelly, Hurd In Vols' Backfield

Tennessee offensive coordinator Mike DeBord, defensive coordinator Bob Shoop and tight ends coach/special teams coordinator Larry Scott spoke reporters at Wednesday's press conference in the Ray and Lucy Hand Digital Studio. No. 18 Tennessee (5-2, 2-2 SEC) takes on South Carolina (3-4, 1-4 SEC) on Saturday at Williams-Brice Stadium with a 7:15 ... (click for more)