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DATE News (chronologically)
02/24/12
Track News
Setting the record straight on Irwindale
There have been numerous rumors regarding Irwindale Speedway. Please permit this statement to provide clarification:

1) THE PERMANENT TRACK GRANDSTANDS ARE NOT (NOR ARE THEY IN ANY DANGER OF) BEING TORN DOWN.  There was a report that the portable, temporary bleachers outside the first turn were being dismantled. That is correct.  Those temporary stands were rented and the company that owned them was simply removing their property.

2) THE TRACK WAS NOT BUILT OVER A POTENTIAL MINING SITE, IT WAS A SAND AND GRAVEL MINING SITE, AND AFTER MATERIALS EXTRACTION, BECAME A MINING RECLAMATION PROJECT.  THE SITE CANNOT BE MINED.  There are a set of very strict rules about the use and development of this sort of property, which are being carefully followed.  In 1993, the City of Irwindale approved the site to be used as a Swap Meet, and in 1997, approved its use as Irwindale Speedway.

3)  NU-WAY INDUSTRIES, INC. OWNS THE LAND, THE RACE TRACK, AND THE EQUIPMENT TO OPERATE THE TRACK.  An entity called Irwindale Speedway, LLC. leased the facility from Nu-Way Industries, Inc.  On February 13, 2012, Irwindale Speedway, LLC filed for protection from creditors under Chapter 7 of the bankruptcy code.

4) BECAUSE OF THE CHAPTER 7 BANKRUPTCY FILING BY  IRWINDALE SPEEDWAY LLC, THE COURT IS IN CONTROL OF THE PROPERTY AT THIS POINT.  HOWEVER, NU-WAY INDUSTRIES, INC. IS ACTIVELY SEEKING A POTENTIAL BUYER FOR THE COMPLETE FACILITY.  A hearing will be held soon in order to return the facility to Nu-Way Industries, Inc. control.

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