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VOL. 129 | NO. 145 | Monday, July 28, 2014

Cleveland Speedway Sells at Auction for $800,000

AP

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CLEVELAND, Tenn. (AP) – After multiple years on the market, the Cleveland Speedway has been sold at auction for $800,000.

Retired investor Al Chapman of Chickamauga, Georgia, told WRCB-TV Chattanooga he's not sure what the future holds for the track, but keeping it open and operating is an option.

The Johnson family has been trying to sell the track for three years after filing bankruptcy. David Johnson says having offers turned down and multiple trips to court have proven frustrating over the years.

Johnson says safety, and addressing the decrepit grand stands would be the first order of business, if racing remains part of the property's future.

Chapman purchased the track and an adjoining 25 acres.

Along with the property, the equipment at the track sold Thursday night for $1,700.

Information from: WRCB-TV, www.wrcbtv.com

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 109 433 13,330
MORTGAGES 114 591 17,349
FORECLOSURE NOTICES 11 93 3,391
BUILDING PERMITS 0 366 30,930
BANKRUPTCIES 76 352 12,695
BUSINESS LICENSES 21 108 4,597
UTILITY CONNECTIONS 77 564 19,457
MARRIAGE LICENSES 29 151 4,060

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