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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 This material may not be published, broadcast, rewritten or redistributed.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 85 205 21,165
MORTGAGES 76 206 24,338
FORECLOSURE NOTICES 27 34 3,135
BUILDING PERMITS 183 321 43,755
BANKRUPTCIES 48 92 13,560
BUSINESS LICENSES 31 44 6,756
UTILITY CONNECTIONS 25 32 7,931
MARRIAGE LICENSES 22 41 4,775