Losing Bidder for Miller Motorsport Park Taking Winner, County to Court
Miller Motorsport Park is going to be caught up in a Chinese finger trap of lawsuits thanks to one butthurt losing bidder.
Center Point Management, represented by Andrew Cartwright, is taking the winner — Geely subsidiary Mitime — and Tooele County to court over the bidding process.
According to Deseret News, the lawsuit filed by Center Point Management states the county broke local and state laws by “basing its decision on future benefits of uncertain value” instead of Center Point Management’s higher bid amount.
The future Utah Motorsport Campus is the result of a $20 million bid by Mitime Investment and Development Group. Their bid includes a manufacturing facility for racing cars and promises to make investments to the track. It also promises to keep the track open for public events.
However, Center Point argues the Mitime bid cannot be considered:
“Mitime’s promise in (its bid) to employ its best efforts to fulfill its intentions and goals regarding future development of the property is unenforceable, illusory and is of no clear, certain or present benefit to the county,” the lawsuit reads.
Center Point offered $27 million for the facility and planned to develop the land with a business park, homes and condos.
[Source: Black Flag/Jalopnik]
I'm confused; does Center Point plan to turn the track into condos, or just build around it?
One is given to wonder whether the developer who wants to raze yet another racetrack would realize how much of a contribution his "development" plan made to the inevitable spike in local street racing. Doubt it. After all, "nobody's got a right to race."
once the chinese market finally crashes and takes most of the rest of the world with it this will all be a moot point. geely will default and nobody else will be able to afford it until the bank marks it down because OBVIOUSLY in a severe recession the last selling price is still feasible by that time only the land will be worth anything- everything else will be vandalized and dilapidated from age, weather, neglect. geely will be stuck building scooters again.
You guys have got to f off with the chinese-this chinese-that xenophobia. Censored myself so you see this immediately. Please.