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Miller Motorsports Park Sale Vacated by Judge

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Miller Motorsports Park is set to change hands, after the Miller family’s LHM Group decided not to renew its lease with Toole County on the property.

This created a situation where bids were tendered for a new operator, which lead to Mitime Utah Investment, LLC — a subsidiary of Chinese company Geely Holding Group, which is also the owner of automotive company Volvo — winning the bidding process with a sum of $20 million, two months ago.

That sale though has been vacated by Third District Judge Robert Adkins, who agreed with the petition of Center Point Management (CPM) that the company’s $22 million bid should have won, since it was higher and the County has an obligation to sell the property for the most money.

It appears that a new bidding process will be undertaken, and CPM says its already plans to increase its bid to $28 million. We shall see if Mitime ups its bid on the property as well, which is valued at just over $28 million.

It’s not clear at this time how the sale will affect the MotoAmerica series, which has Miller Motorsports Park on its calendar for June 23rd to 25th.

Source: KUTV; Photo: © 2012 Jensen Beeler / Asphalt & Rubber – Creative Commons – Attribution 3.0

Jensen Beeler

Despite his best efforts, Jensen is called one of the most influential bloggers in the motorcycle industry, and sometimes consults for motorcycle companies, whether they've solicited his expertise or not.

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