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.