Badlands Motor Speedway can be yours for the lump sum of $9.75 million. On Wednesday morning, the speedway released a statement on their website announcing the decision to sell the racing venue.
Badlands Motor Speedway Statement:
"On November 8th, 2016, the voters in South Dakota overwhelmingly passed a ballot initiative to eliminate licensed short term lending from the state. Well, that is what we do, and our flagship business in South Dakota, Dollar Loan Center, was given only 5 days as a result of the ballot initiative by the State of South Dakota to comply with this change of law. This move by the voters has left hundreds without jobs and tens of thousands without a safe and alternative financial option.
Mr. Brennan has invested and donated well over $100,000,000 in his home state of South Dakota and most of that investment within a mile of where he grew up at 8th Street and Covell Avenue in Sioux Falls.
Because of these recent events, Mr. Brennan is reevaluating his economic presence in South Dakota and will be selling several of his many properties and businesses in the State and diverting that business to the other markets that he currently operates."
The Sioux Empire area racetrack, which was known as Huset’s Speedway until Badlands Entertainment Group purchased it in 2015, was renovated last year during the offseason. According to the information presented on the Badlands Motor Speedway website, Chuck Brennan, the Owner of BEG, spent $10 million in upgrading the facility before the 2016 race season.
Along with having a rich racing history that goes back more than 60-years, the venue has hosted some big time concerts. Names like Willie Nelson, Ricky Nelson, and The Beach Boys have all performed at the outdoor race track.
Just this summer, Badlands Motor Speedway hosted Hairball, Panic At The Disco, and Weezer in a weekend extravaganza.
Badlands Entertainment Group has not yet released a statement on their other South Dakota holdings.
