FOX13 TV News in Salt Lake City, Utah, is reporting that Andrew Cartwright of Center Point Management LLC, the losing bidder in the sale of Miller Motorsports Park, is suing Tooele County and Mitime.
In May 2015, the Larry H. Miller Group, the creators of Miller Motorsport Park, announced that it would not renew its land lease deal with Tooele County, effectively handing the $200-plus-million world-class racing facility over to Tooele County, the owner of the 511 acres of land it was built on.
Tooele County then advertised it wanted to sell the facility and land to a group that planned to keep it in operation as a motorsports facility.
On August 18, Tooele County announced it planned to sell Miller Motorsports Park and the land it sits on to Mitime Group, the newly-formed subsidiary of Chinese automobile manufacturer Geely, for $20 million.
Mitime Group (represented in America by Alan Wilson, the man who designed Miller Motorsports Park and ran it for three years before moving on to many other racetrack-related projects, including some for Geely) has announced plans to invest heavily to improve and expand what will be known as Utah Motorsports Campus, continue all current racing activities, set up race car manufacturing and motorsports training operations at the track, and promote Utah to potential tourists from China. Mitime has told Tooele County that it plans to invest about $270 million in the project and anticipates that investment will result in a $1 billion impact on the area over the next 25 years.
Cartwright and his company Center Point Management LLC offered $22.5 million to purchase Miller Motorsports Park and, according to a report by KUTV 2 NEWS in Salt Lake City, planned to invest about $140 million more to keep the track in operation while constructing condos, homes and an office building. Cartwright is alleging that Tooele County did not give his higher bid “full and adequate consideration” and based its decision to sell to Mitime on “future benefits of uncertain value,” which violates local ordinances and state law, according to FOX13 News’ report. Cartwright and Center Point Management is asking the court to set aside the sale.
See FOX13 News’ report here: http://fox13now.com/2015/09/09/losing-bidder-sues-…
The report does not explain why Cartwright and Center Point Management LLC are suing Mitime Group.