Edinburg Raceway Press Release 2-15-16
The reason Edinburg Raceway is closing down is as follows.
For those of you that don't know, the property where the track is located is not owned by Edinburg Raceway, is part of the Edinburg Airport property which is owned by the City of Edinburg. We lease this property from the City and pay monthly rent. The lease is for the property ONLY. With a couple of exceptions, everything you see out here other than the dirt and the pavement is owned outright by our company, Edinburg Raceway Inc. We have no mortgage, bank loans, liens or anything like that. Any rumors that we are closing down because we have money problems are completely untrue. Any rumor that our lease was terminated because we didn't do any upgrades to the track is total crap.
Two years ago we signed a new five year lease agreement with the City and had an option for five more years after that if we so desired. As I stated above, we had every intention of being here long into the future. In the 4 years that we have been here we have had ZERO, I repeat ZERO problems or complaints from the City of Edinburg. Anytime we spoke with City officials, we were told that we were great tenants, we paid on time and provided a positive image for the City of Edinburg. So why out of the blue would the Edinburg City Council go behind closed doors in Executive Session at the City Council meeting and decide to terminate our lease agreement without us even knowing there was a problem or giving us the opportunity to defend ourselves? Good question. We weren't even informed that this was even on the council's agenda. That is exactly what we asked the people at the City as soon as we heard about it. Their response, "We don't have to have a reason". Even though we were only 2 years into a 5 year contract, we received a Notice from the City of Edinburg dated Nov 30th, that simply states that our lease contract is terminated and we needed to vacate the premises. No reason, no nothing. Just you're terminated. Interestingly, this happened not to long after a certain track employee was fired. Not to long after we fired him, suddenly our lease was terminated.
So, unfortunately we were left with no option but to close down and start removing our equipment. As of Friday Feb 12th, no one has a contract with the City of Edinburg to lease the racetrack property so there currently is no future for the track. That is all I am really allowed to say at this moment, but believe me, there is a lot more to this story and I will absolutely be releasing more details very soon.
So, we would like to say farewell to our racers and fans and hopefully we will see some of you at the races somewhere.
Click here to read article from "The Monitor" Edinburg Raceway operator bids goodbye amid possible litigation