Possible sale of Bowman Gray Stadium

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RT88
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Possible sale of Bowman Gray Stadium

Post by RT88 » Sun Jun 23, 2013 2:56 pm

The famed Madhouse could be sold. Hopefully there will be a future for one of the top speedways in the country. This year they are having big car counts and strong crowds - although Saturday night the threat of rain kept their crowd down. This was sent to me by my contact at Bowman Gray Stadium. Steve Bubb

As for the continuing saga of the sale of the track. The city has given "tentative approval" for the sale of the track to a Winston Salem State University. The hang up is the university doesn't have any money to buy it. They want the legislature to advance them the money but the Republican conservative majority now in power is cutting expenses and not likely to give them the money. The university wants to increase student fees to pay back the money but they have such an terribly low graduation rate they can't keep students enrolled. We'll see what happens but the stadium promoters do have a 20 year lease and the university would be utterly stupid to lose 4 months of guaranteed income where they basically have involvement. The university uses the facility for 6 home football games and a scattering of minor events during the year. The city actually makes money at BG but they are amortizing the cost of the clubhouse rebuild to show a loss for the facility. Prior to the rebuild of the VIP tower and fieldhouse the city used the money from BG to fund the city recreation department activities.

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ChickmagnetRacing
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Re: Possible sale of Bowman Gray Stadium

Post by ChickmagnetRacing » Mon Jun 24, 2013 9:08 am

I understand the university uses the stadium & makes money from the racing at Bowman Gray, but if the university ends up buying the stadium, will they let the racing continue at Bowman Gray?

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RT88
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Re: Possible sale of Bowman Gray Stadium

Post by RT88 » Tue Jun 25, 2013 6:35 pm

My column this week in AARN is about the stadium

The city owns the stadium. Winston Salem wants to sell the stadium and an arena.

Last year Winston Salem State University, the location of Bowman Gray, tried to have the legislature pass a bill giving them $7.5 million the buy the stadium. There was concern about the racing program so the bill died.

The college wants the stadium. Last year they said that they would work with Bowman Gray to continue racing. Hopefully they are serious about it. The racing effort has a long term lease.

The college uses the stadium for six games plus some high school games. To let it sit empty all summer is nuts so I would believe racing will continue. The city says they are losing money on the stadium which I find very hard to believe. If they are not making money off the racing, a usual Bowman Gray Saturday night crowd is between 10 to 16,000 people, they are doing something very wrong. They did add a fieldhouse and a jumbotron which brings some heavy expenses.

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Re: Possible sale of Bowman Gray Stadium

Post by RT88 » Tue Jun 25, 2013 6:46 pm

If you have never been to Bowman Gray, I think this video sums up what it is really like. there is nothing in this area that compares. I am sure they were not thrilled with the winner spinning donuts on the football field. You can see how close you sit tto the track

http://www.youtube.com/watch?v=wxTTLGxZF_o

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racindad88
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Re: Possible sale of Bowman Gray Stadium

Post by racindad88 » Thu Jul 18, 2013 12:22 pm

wow now that's insane
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