SMP sold | GTAMotorcycle.com

SMP sold

John and I share a great enthusiasm for motorsports
and I look forward to working together to create a revitalized Shannonville Motorsport Park.
There’s plenty of work ahead and it will take time, but the result will be worth the wait,”
explained Steve Gidman, Partner of Shannonville Motorsport Park

great news
they appear to have the energy required
let's hope the have the capital behind them too

the infrastructure needs it
best of luck to the new owners
 
Xrayhonda said:
Will they honor the pre-paid track days for next year?
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Is that a hypothetical question, or does it concern a real situation (i.e. do you actually have pre-paid track days for next year, despite no organisation that I know of actually booking track days next year into a schedule that they don't even have?)

If it's hypothetical, skip it. If it's real, (A) shame for not having learned from TMP, (B) the question is best directed to whichever organisation that you pre-paid the track days with. If that's the track itself, call them.

My understanding was that this ownership transfer was delayed until scheduled events for this year were complete, so that there were no (or very few) remaining such situations to confuse the books. All revenue for this year went to the previous ownership, next year starts off with a clean slate with the new ownership. Makes sense to me.
 
Xrayhonda said:
Will they honor the pre-paid track days for next year?

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Riceburner said:
Cayuga didn't when new ownership took over.
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Brian P said:
Is that a hypothetical question, or does it concern a real situation (i.e. do you actually have pre-paid track days for next year, despite no organisation that I know of actually booking track days next year into a schedule that they don't even have?)

If it's hypothetical, skip it. If it's real, (A) shame for not having learned from TMP, (B) the question is best directed to whichever organisation that you pre-paid the track days with. If that's the track itself, call them.

My understanding was that this ownership transfer was delayed until scheduled events for this year were complete, so that there were no (or very few) remaining such situations to confuse the books. All revenue for this year went to the previous ownership, next year starts off with a clean slate with the new ownership. Makes sense to me.
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When someone buys a business they typically buy both the A/R and A/P (debts owed and debts owing). I assume prepaid track days or, what’s more likely, track days that were pre-bought for this season and never used, could arguably fall into the ‘gift card’ category. If that’s the case, one could also argue that gift cards never expire and therefore need to be honoured regardless of who owns the business.


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So many questions to be answered by the new owners. Let's hope they are bike friendly and won't turn the track like Mosport, where bikes are there only a few days a season (if they can physically turn it like Mosport that would be great). I hope they will finally have weekend trackdays regularly for bikes at SMP, other than racing. It's strange living 20 mins from SMP and having to drive hours away just to do a trackday on weekends.
 
Xrayhonda said:
Will they honor the pre-paid track days for next year?

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I still have one on the books as well. I'm hoping they honour it out of good faith, even if there is no obligation to do so. Mechanical issue followed by a rain out didn't play out the way I was hoping.
 
Katatonic said:
When someone buys a business they typically buy both the A/R and A/P (debts owed and debts owing). I assume prepaid track days or, what’s more likely, track days that were pre-bought for this season and never used, could arguably fall into the ‘gift card’ category. If that’s the case, one could also argue that gift cards never expire and therefore need to be honoured regardless of who owns the business.


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If the gift card is under the same business name, sure. If different ownership and company name, probably not. New owner is under no obligation to debts of previous owner if it's a different business, even using the same premises and equipment and end product. AFAIK. Hence why shady businesses change the company name and start over....doing the same business.
 
Riceburner said:
If the gift card is under the same business name, sure. If different ownership and company name, probably not. New owner is under no obligation to debts of previous owner if it's a different business, even using the same premises and equipment and end product. AFAIK. Hence why shady businesses change the company name and start over....doing the same business.
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Fair enough. We’ll see what name they go with.


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Im not thrilled. They talk of renovations, and a multi use event hub with an emphasis on corporate events.

"There is a lot of work to do be done - we will CHIP away at it"

What shanny needs is proper smooth blacktop - with the quality of Bogie blacktop.

It would be fantastic if they repave, but I wouldn't count on it, based on their introduction.

Waiting and wondering what will happen ...
 
Speculation? Tear down the tower building (doesn't meet building and fire code anyhow), rebuild containing modern facilities for training, press, etc. Tear down grandstands and rebuild with garages underneath. Make the paddock prettier. Hopefully fixing the parts of the track in desperate need of repair (long track 6A-B, 9) get fixed. We can only hope...

It wouldn't trouble me to pay a bit more to use a facility that is a lot better.
 
Katatonic said:
When someone buys a business they typically buy both the A/R and A/P (debts owed and debts owing). I assume prepaid track days or, what’s more likely, track days that were pre-bought for this season and never used, could arguably fall into the ‘gift card’ category. If that’s the case, one could also argue that gift cards never expire and therefore need to be honoured regardless of who owns the business.


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Click to expand...

This was a real estate transaction.
They acquired 'shannonville motorsports park'
 
Comes with some nice limestone and a small stone quarry if they are allowed to exploit it, if not then the land value is indeed fairly low.
 
Bakaboy can you provide a link?

The SMP site? Friend emailing them desperately as he has 5 days and no one responding from the track
 
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