Georgetown Speedway has been bought by an funding group together with Brett Deyo, the observe’s supervisor and promoter for the previous 5 years.
“The settlement solidifies the way forward for the Sussex County property for auto racing,” Deyo stated in a information launch Tuesday night time.
Till now, Deyo, of BD Motorsports Media, had been working the observe below a lease settlement with proprietor Seacoast Traders. That restricted the enhancements he might make on the observe, he stated.
“The acquisition will permit us to significantly consider the wants of the ability and make upgrades for the long run,” Deyo stated.
He’ll proceed to handle the observe.
The four-parcel property north of Georgetown, surrounded on three sides by Route 113, Speedway Street and Bethesda Street, modified palms Dec. 30, 2021, in line with Sussex County data. Seacoast Investments bought the land to Parkada Investments for $1.55 million.
Parkada Investments’ registered agent is James Parker of Millsboro, proprietor of Jim Parker Builders. When approached, Ken Adams, proprietor of a number of Georgetown companies together with Stockley Supplies and Melvin L. Joseph Development Firm, additionally confirmed his involvement within the speedway buy.
Adams is the grandson of Melvin Joseph, who first opened the observe in 1950. Neither he nor Parker instantly returned requires remark.
Seacoast Investments doesn’t have a person registered agent. Deyo stated beforehand the group is comprised of six people who reside out of state. They deliberate to develop the race observe property, Deyo stated, however that by no means got here to fruition.
Georgetown Speedway’s 2022 season will start March 10 with Melvin L. Joseph Memorial Weekend. The headlining race will supply the most important purse in Delaware dirt-track historical past, in line with Deyo. Winnings vary from $25,000 for first place to $1,000 for sixteenth.