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 This material may not be published, broadcast, rewritten or redistributed.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 92 280 9,849
MORTGAGES 105 287 11,601
FORECLOSURE NOTICES 0 28 1,662
BUILDING PERMITS 0 328 20,638
BANKRUPTCIES 43 162 6,599
BUSINESS LICENSES 38 90 3,529
UTILITY CONNECTIONS 0 79 4,062
MARRIAGE LICENSES 16 79 2,258

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