Shannonville for sale? GTAM group buy?? ;)

Only 2M?

I'll check my tool box tonight to see how much loose change I have.
 
Scuba Steve said:
I can't imagine it would have a good enough ROI at 2m to be worth it.
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Who knows? But when you buy a business, you can ask the seller to show you the books, including income statements, tax returns, etc. so you can verify the cashflow, debts, inventory, etc.

One thing for sure, it needs a ton of money in repairs and marketing so it can live to its full potential. Probably another half a mill... that has to be taken into account.
 
Maybe if somebody with money were to invest and attract new business (like what happened at CTMP) maybe it would be a good thing.
 
Because of the location it won't be to attractive for development which might save it as a racetrack

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I guess I am misremembering things, but I could have sworn that it already changed hands in the last few years. (No I am not confusing it with Mosport... or am I?)
 
Oh wow. I loved that track and all of it's configurations. Spent lots of weekends there participating in lapping days and Solo 1 events. Made great friends and shared many laughs. Hopefully somebody will pick it up and turn it around.
 
Land value. But to give it perspective, 2 M is just the cost of 2 homes so not that expensive.


The one thing we have not seen here but it has been attempted elsewhere is a track club where people purchase equity or a membership like a golf club to have a place to ride or drive their toys.

Many pay 40 k to join golf or ski clubs.
 
I just thru out the $2M. Its not reality. Just a made up #.

I have heard esimates of up o $4.2M. But the only way anyone would know is to start negotiating. Which I am not so I have no way of knowing.

And its on Native land I believe.

I would love to see a Club.

STARSHIP said:
Land value. But to give it perspective, 2 M is just the cost of 2 homes so not that expensive.


The one thing we have not seen here but it has been attempted elsewhere is a track club where people purchase equity or a membership like a golf club to have a place to ride or drive their toys.

Many pay 40 k to join golf or ski clubs.
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STARSHIP said:
Land value.
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Shannonville is on a long-term lease from the Indian reservation that the land is on. Essentially the track doesn't own the land. In my view, the price tag has to be a representation of future earnings without consideration of the land value. Back-of-notepad calculations using the rumored-and-speculated $4.2m asking price does not give a reasonable rate of return when the risk is taken into account and certainly not when the further investment that is needed in the facility is taken into account. For example, does anyone think the timing-and-scoring tower building is compliant with building code and fire code??
 
If it was a "money maker", why would it be for sale?

Buying Mosport made sense because it was bought by a land developer and so is being held as a land bank. As long as it pays the taxes it makes sense, but at Shannonville you don't get to build a thousand houses at the end because you don't own the land.
 
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