SIOUX FALLS, S.D. (AP) – Badlands Motor Speedway owner Chuck Brennan is extending the racetrack’s sale deadline so a former owner can purchase it back.
Brennan, a payday loan mogul, is threatening to bulldoze the racetrack in Brandon if the $6.3 million transaction doesn’t go through. A statement on the speedway’s website says no other offers are being accepted.
Badlands Motor Speedway ownership says it reached a deal with Steve Rubin, who owned and ran the racetrack with his family for nearly 30 years before its sale to Brennan in 2015. Rubin, his father and his brother bought the then-Huset’s Speedway in 1987.
Rubin sought up to 60 days to put together financing and an investor group. The statement says the speedway will be demolished if the fundraising falls through.