The St. Louis Post-Dispatch has reported that a group discussing the purchase of Gateway International Raceway from Dover Downs Entertainment has broken off talks.

The report confirmed that a group of investors coordinated by ADRL President Kenny Nowling and including Sheikh Khalid Bin Hamad Al Thani had inquired about the purchase but withdrew their interest after learning that Gateway reportedly doesn’t own the property and that Dover owns only a small portion.

The St. Louis Post-Dispatch has reported that a group discussing the purchase of Gateway International Raceway from Dover Downs Entertainment has broken off talks.

The report confirmed that a group of investors coordinated by ADRL President Kenny Nowling and including Sheikh Khalid Bin Hamad Al Thani had inquired about the purchase but withdrew their interest after learning that Gateway reportedly doesn’t own the property and that Dover owns only a small portion.

I wished that I had better news to report," Nowling told the St. Louis Post-Dispatch. "My investors kind of soured a little bit after finding out ... we weren't aware that Gateway doesn't own this property. Dover owns a very small portion of this property.

"It got very convoluted. We're talking about having to lease a section ... turn three is owned by someone and this adjoining property (the marsh land that runs parallel to the dragstrip). My group wants to buy a facility, they want to be able to expand that facility, they wanted to put race shops there. Unfortunately it just wasn't the right fit."

Gateway General Manager Lenny Batycki declined comment in the article, deferring to Dover Vice President Michael Tatoian.

The complete article written by Ken Roberts can be read here .
 

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