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November 2, 2006
ALABAMA MOTORSPORTS PARK SITES UNDER REVIEW AND IN NEGOTIATION
Three Locations Considered for New Entertainment Complex
MOBILE, AL – Investors in the Alabama Motorsports Park, A
Dale Earnhardt, Jr. Speedway announced today that they are close
to selecting a site for the future entertainment complex in south
Alabama. Three parcels remain under consideration, two in
Baldwin County and one in Mobile County.
“After the initial announcement in September we heard from
a number of entities, including landowners, who asked us to consider
their
property in addition to the sites that were announced,” said
Mike Dow, president of Gulf Coast Entertainment, L.L.C. “These
new sites were accompanied with a great deal of enthusiasm from
the land owners and reflected a positive reaction to the plans
and goals of our investor group. We reacted as would be expected,
by making a bona fide investigation of each opportunity presented.”
“We had hoped to reach a final decision by today,” continued
Dow, “but the introduction of the new sites and subsequent
environmental and engineering investigations have been time-consuming
for all the parties. Since public interest is so high, we
felt it was in everyone’s interest for us to update the status
today, even though we’re a week or so from completing final
negotiations and making the decision.”
The sites under review for Alabama Motorsports Park include a Mobile
County location across from the University of Mobile in the Saraland-Prichard
area and two sites in south Baldwin County – both of which
are north of the Foley Beach Express.
“These few days do not impact our ability to make our original
development schedule,” stressed Rick Edwards of the investor
group. “We’ve
been on parallel tracks investigating the three sites that we’re
still considering, so we’re actually executing our plan in
three locations, rather than just one. There do not appear
to be any significant issues negatively affecting any of the tracts. This
is a decision that will impact the economics of south Alabama for
decades, and it’s simply not a decision that needs to be
made without considering all factors and every potential opportunity.”
Alabama Motorsports Park, A Dale Earnhardt Jr. Speedway is a property
of Gulf Coast Entertainment, L.L.C. The entertainment complex
is planned to house four racing venues, retail shopping, restaurants,
an RV resort, and other venues such as music theaters. The
investors plan to open the complex for racing in the fall of 2009
and to be fully operational in 2010. |
