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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 This material may not be published, broadcast, rewritten or redistributed.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 76 133 9,499
MORTGAGES 89 164 11,910
FORECLOSURE NOTICES 0 0 2,278
BUILDING PERMITS 161 403 21,081
BANKRUPTCIES 64 106 7,442
BUSINESS LICENSES 17 33 3,345
UTILITY CONNECTIONS 114 225 11,504
MARRIAGE LICENSES 25 53 2,656

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