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: AARON, STEVE LYNN  2518 CRESCENT CLUB DR HIXSON, 37343  Age at Arrest: 50 years old Arresting Agency: East Ridge DOMESTIC ASSAULT DOMESTIC ASSAULT --- AKINS, JAVORIS  7604 STANDIFER GAP RD CHATTANOOGA, 37421  Age at Arrest: 20 years old Arresting Agency: Chattanooga DRIVING ... (click for more)

Fort Oglethorpe Arrest Report For May 20-26

Here is the Fort Oglethorpe arrest report for May 20-26: Cavin Lebron Davenport, 19, of 4000 Sunset Avenue, Chattanooga was arrested May 21 on charges of center lane violation, possession of marijuana and driving while license revoked. Shawn Daniel Whitaker, 31, of 73 Twin Lakes Road, Lafayette was arrested May 21 on charges of driving while license suspended and failure ... (click for more)

Fruit Basket Turnover

I have been teaching for 21 years now, so I’ve been through my share of school leaders. Every one of them taught me something important. Whether it was Don Bishop from Red Bank High School who, after almost 30 years at Red Bank, taught me to invest in the longevity of my career, Wade Kelly who taught me to thoroughly weigh options before making a decision, Gail Chuy who taught me ... (click for more)

Roy Exum: ‘Let Me Be Clear’

I have seen a lot of human beings who have gotten themselves in terrible messes in my time and more self-induced agony than I want to recall. Will Rogers famously said, “Give a man enough rope and he’ll hang himself.” That’s the truth and if you ever didn’t think that “Politics corrupts,” consider the genius behind the line, “It ain’t long those who get elected … begin to think ... (click for more)

Chicago Fire Wins Steinbrecher Cup 2-1 In Overtime

It took 120 minutes to decide who is the best US amatuer soccer team Saturday night at Finley Stadium as the Chattanooga Football Club took on the Chicago Fire of the PDL.   The Fire would score first but Chattanooga tied the match early in the second half.  Luke Winter scored the equalizer in the 47th minute off a Jon Finlay cross.   The game would remain tied ... (click for more)

Harrison Sparks Lookouts To 3-2 Win Over Smokies

For the second straight night Travis Harrison delivered in the clutch for the Chattanooga Lookouts. Tonight the third baseman drove in all three runs in the team's 3-2 win over the Tennessee Smokies before a crowd of 4,765 at AT&T Field. Harrison kicked off his night in the third inning with an RBI single to bring home Zack Granite who reached on a walk. Chattanooga ... (click for more)