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.


Fort Oglethorpe Arrest Report For Oct. 24-30

Here is the Fort Oglethorpe arrest report for Oct. 24-30: Timothy Lee Gray, 35, of 10331 Sims Harris Road, Ooltewah was arrested October 24 on a charge of loitering and prowling. Samantha Lois Smith, 32, of 10331 Sims Harris Road, Ooltewah was arrested October 24 on a charge of loitering and prowling. Laressa Michelle King, 23, of 8815 Surry Circle, Chattanooga was ... (click for more)

Upcoming City Council Agendas

Here are the upcoming City Council agendas:   Tuesday, Nov. 4:  I.          Call to Order. II.         Pledge of Allegiance/Invocation (Councilman Anderson). III.       Minute Approval.               ... (click for more)

Thanks For Publishing The Stokes Photo Book

I pre-ordered the Stokes Photo Book and picked it up Wednesday . The covers and content are very high quality and contain photos you will not see anywhere else.  This book of photos is worth much more than $35.  I have seen many historic photos of my hometown Chattanooga, but this collection is amazing. My favorites are National Cemetery, Confederate Cemetery near ... (click for more)

Roy Exum: Saban: ‘Ratings Don’t Matter’

When the first College Football Playoff rankings were released earlier this week, Alabama football coach Nick Saban got it right on the button when he shrugged, “I don't even care, to be honest with you." "To me, none of it matters, What does it matter?” he laughed at the Tide’s No. 6 ranking. “I mean, it only matters where you end up at the end. So what matters to us is how ... (click for more)

Owls Beat McMinn, 30-12, To Complete Unbeaten Regular Season

Undefeated. Sounds nice, huh. After a sluggish first half that produced only three points on a Laszlo Toser field goa., third-ranked Ooltewah came to life in the third quarter, riddled McMinn County’s defense with three Kelvin Leon touchdown passes in the third quarter and went on to beat the Cherokees, 30-12, at James N. Monroe Stadium to secure the school’s third unbeaten ... (click for more)

Notre Dame Clobbers Grundy Co. For 7-AA Title

Notre Dame coach Charles Fant is always hoping that his Fighting Irish football team can get off to a fast start. He never thought it would be as quick as what he saw Thursday night at Jim Eberle Field. With a District 7-AA championship on the line on an evening when they honored all of the fall senior athletes, a football game turned into a track meet and eventually a victory ... (click for more)