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  • WoO & DIRT sale pending?

    According to this article, both series are in the process of being sold to the same entity.
    That should make for some interesting dynamics for promoters...

    LINK

  • #2
    So it is the same folks that are trying to develop the racing park outside Waxahachie. You just never know, do you. Maybe the combination with the production company will help WoO get on the air more.

    Comment


    • #3
      Well, Mr. Ernie Saxton, the noted Motorsports Journalist, had this to say about it in his column this week, in AARN:
      This was in Ernie Saxton's column in AARN this week:

      In recent weeks I had heard so much about Boundless Motor Sports Racing, Inc. That is the group that is said to be buying DIRT Motorsports and the World of Outlaws. And they have announced plans to build a $100 million road course racing complex not to many miles away from Texas Motor Speedway.

      So I looked them up. I went to their website. I thought, perhaps, this is a rising company that might be worth investing a "couple dollars" in.

      I have to say I was surprised by what I found on the website. Under COMPANY PROFILE I found that Boundless is a multi-faceted racing organization with three fields of operation. 1. Race Track Ownership & Operation 2. Race Series Ownership 3, Race Event & Series Promotion.

      So I moved on to read about their race tracks, the race series and their race event promotions.
      Perhaps the website was malfunctioning? I printed out several pages of material and found that, at present, under the list of Racing Complexes and Race Tracks that they own or operate is a race complex located in Waxahachie, Texas which is under developement. It is supposed to, when built, consist of four main racing venues. It is suppose to cost somewhere in the neighborhood of $250 million. The facility is supposed to run its first event in the Spring of 2005. As far as I can figure the first spade of earth has yet to be turned.

      This is it. That is Boundless Motorsports.

      However I did find that Boundless and a company named Entity, Inc. (OTC.PK:ENTY), with 81,400,000 shares of common stock outstanding, were planning to merge. In fact it may have already happened.

      ENTITY, Inc. is a publicly-traded company with NO OPERATIONS. With no operations does that mean they have no business?

      According to their own website Boundless is pursuing acquisition of dirt motorsports racing sanctioning organizations and race tracks in the United States. And they MAY acquire rights to other international racing series inb the United States and internationally.

      Now let me see, Boundless (with little or no experience in motorsports) combined with Entity, Inc. (with no operations) will be combined into one company.

      There was nsothing that would tell us anything about the people involved in the companies.

      I have decided to put my few dollars back under the mattress until I see what happens.

      However, I have to say, I would not get to excited. But you must remember I am the cautious type and like to wait and see the paperwork finalized and the cash in hand.

      Comment


      • #4
        Yeah what he says.

        I read that column yesterday.

        Ernie Saxton can be a pompous blow-hard at times,
        and there's many who do not like him.

        That being said, I believe hes right about 95% of the time.

        Sounds like a shaky deal to me after reading what Saxton wrote.
        Live like Dave

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        • #5
          Originally posted by KevMcNJ
          Yeah what he says.

          I read that column yesterday.

          Ernie Saxton can be a pompous blow-hard at times,
          and there's many who do not like him.

          That being said, I believe hes right about 95% of the time.

          Sounds like a shaky deal to me after reading what Saxton wrote.
          Sounded pretty shaky to me after looking at the Boundless website. And yeah, if you went with Ernie's predictions, I doubt that you'd lose much money. Believe it when I see it.
          "It was actually fun, because you're back fully driving again in these trucks. Ninety percent of the tracks we go to in the IRL, you're flat-out. I was having to lift off the corners some here." - Buddy Rice

          Comment


          • #6
            There has been an article/story on the deal submitted to Gannett for publishing either tomorrow or Friday... I'll link it if it hits the paper, but I promised I wouldn't if it isn't published.

            Not sure any buyer could be worse for the series than where it has been sitting the last few months.

            After all, someone ponied up the money for them to get their trailers & shirts back... I wonder who did that because obviously the WoO couldn't.

            Interesting info though, thanks for the post!

            Comment


            • #7
              For what it's worth.....

              Oklahoma businessman buys Outlaws
              2003-08-14
              By Josh Ward
              The Oklahoman


              NORMAN -- Boundless Motorsports Racing Inc., led by Norman businessman Paul Kruger, has entered into an agreement to purchase both the World of Outlaws and DIRT Motorsports Inc.
              Under the agreement, Boundless Motorsports will take 100 percent control of both the Outlaws sprint car series and DIRT, as well as their assets.

              Financial terms of the deal were not disclosed. The sale, which took more than six months to complete, makes Boundless Motorsports the largest dirt-track sanctioning body in the country. It will sponsor races for sprint cars, modifieds, super modifieds and sportsman classes.

              The World of Outlaws is the world's largest sprint car racing series with more than 100 races each year in both the United States and Australia, including yearly races in Oklahoma City.

              Kruger said the number of races will remain the same for the 2004 season, but the schedule will also include races in South Africa and Brazil.

              "But other than that, things will remain essentially the same," Kruger said.

              Ted Johnson, founder and president of the World of Outlaws, was reached in his suite at the Knoxville (Iowa) Nationals. He declined to comment until after a formal announcement is made today.

              "During my 25 years with the World of Outlaws, we've built a great series with the help of our dedicated fans and outstanding drivers," Johnson said in a Boundless Motorsports news release. "Now, as part of Boundless, we'll have the support to take the World of Outlaws to a whole new level of exposure."

              The Knoxville Nationals is the Outlaws' largest event of the year, drawing more than 25,000 fans each night for the four- night event.

              Kruger said Johnson will be retained for an unspecified amount of time as a consultant. Kruger also said that every member of the Boundless Motorsports management team will be in Knoxville this week to meet fans and drivers as well as to recruit new team owners.

              Speculation of an Outlaws ownership change began to surface when much of the series' assets were seized on May 24 at Lowe's Motor Speedway near Charlotte, N.C.

              Sources close to the Outlaws said the series was $4 million in debt, and the asking price for the circuit could be as high as $5 million.

              Wednesday night, however, Kruger said the series is "completely debt free."

              DIRT, which was purchased from founder Glen Donnelly, is the only dirt racing sanctioning body to have its own in-house television department. DIRT offers 40 hours of live and tape-delayed productions on Speed Channel, Time Warner Cable and Empire TV Network.

              "For the DIRT series," Kruger said, "we'll begin to expand it nationally. It's really an East Coast series now."

              Both the Outlaws and DIRT will be headquartered in Richardson, Texas, where Kruger's office is. In addition to being the chairman and CEO of Boundless Motorsports, Kruger is also the CEO of Sleep Centers of America.

              He has interests in the Dallas-based PalWeb Corp., Hidalgo Trading, Onward and is building Indian Ridge, a golf course and housing development near Blanchard.
              "It's not the split, it's not the lack of marketing, it's not the days the races run on, it's the product." Tommy Kendall

              "....and the DRIVERS are the product !" SJFast

              Comment


              • #8
                Done deal according to Ralph Shaheen on Wind Tunnel tonight. Another oft overlooked fact is that Nelson Piquet is also an owner of Boundless hence the Brasil and South Africa reference. Could we be seeing that start of Brasillians in WOO?
                SENسR MODERATOR......

                "Better To Be Judged By Twelve Than Carried By Six"
                " Only Those Who Will Risk Going Too Far....Can Possibly Find Out How Far One Can Go "...T.S. Elliot....

                Comment


                • #9
                  An interview/article on the sale... posted w/ permission from the writer/interviewee:


                  Group purchases the World of Outlaws
                  By xxxxxxxx

                  For the first time in its 25-year history, the World of Outlaws racing organization is not under the control of Ted Johnson.
                  Johnson founded the sprint car racing organization — which comes to Grays Harbor Raceway in Elma next week — in 1978 and has grown it into the top level of sprint car racing in the country.
                  Texas-based Boundless Motor Sports Racing Inc. announced Wednesday it has entered into an agreement to purchase the Outlaws. Earlier in the day, Boundless purchased DIRT Motorsports Inc. The combined purchases make Boundless the largest dirt track racing sanctioning body in the country.
                  A formal announcement of the Outlaws sale is expected Friday, coinciding with the running of this weekend’s Knoxville Nationals, the biggest Outlaw race of the year.
                  Leslie Wulf, president of Boundless, is excited about Wednesday’s acquisitions. “We saw it as an opportunity, combining the World of Outlaws with DIRT Motorsports and becoming a dominant force as a sanctioning body,” he said Thursday morning. “One and one makes four as far as TV and other factors. It took a couple of months to get this worked out. All the final documents were signed Wednesday.”
                  Johnson and Paul Kruger, chairman of Boundless Motor Sports Racing, released a joint statement Wednesday about the sale. “During my 25 years with the World of Outlaws we’ve built a great series with the help of our dedicated fans and outstanding drivers,” Johnson said. “Now, as part of Boundless, we’ll have the support to take the World of Outlaws to a whole new level of exposure.”
                  A key to the new exposure is TV coverage. DIRT Motorsports — which holds races primarily in the Northeast — has its own TV production company.
                  While races are on Speed Channel, Wulf believes other networks will be used as well. “I’m sure we’ll have more than just Speed,” he said. “We hope to grow both organizations into larger, better shows. Ted’s done a great job the last 25 years. We think the marketing has been underutilized. We will market it better, and get better exposure. We hope to build on the brand with both organizations.
                  “We’re shooting for maybe 30 Outlaw races on TV next year,” Wulf added. “It also depends on the facilities we race at. Pardon my language, but if a racetrack looks like crap, most likely we’re not going to have a televised event there. If (owners and promoters) want TV, they will have to bring the track to a certain standard. We have not decided what tracks will be televised yet. For the rest of 2003 we will do four TV shows for the Outlaws. For next year, it hasn’t been determined yet. We will look at it over the winter.”
                  The possibility of TV coverage played a large role in renovations at the Elma dirt track. In mid-November 2002, Johnson wrote to promoter Fred Brownfield that if Brownfield could guarantee by the end of the month improvements would be made, Elma’s 2003 Outlaw races would be televised.
                  Brownfield and Grays Harbor County officials worked out a deal calling for both sides to spend nearly $300,000 in improvements at the Elma track. Among other things, work includes expanding the track from 3/10-mile to 3/8-mile, a new sound system, new lighting and new buildings.
                  However, the TV deal fell through after World of Outlaw assets were seized in May by a North Carolina-based TV production company.
                  Brownfield said Wednesday the lack of TV coverage in Elma this year is actually a good thing. “To be perfectly honest, it is probably a blessing,” he said. “I don’t want to give the nation watching on TV a bad show. The track is not complete enough. It just wouldn’t show well. We would have to bring in temporary lighting to meet the specified requirements.”
                  In addition to bringing in lighting — at an estimated cost of $30,000 — Brownfield noted he would have “had to do a lot of fixing that would be short-term to make it more presentable.”
                  On Thursday morning, Brownfield said he couldn’t comment on the Outlaws sale yet since the Outlaws office hadn’t made it official to the public yet.
                  Since this year’s TV deal fell through, there has been plenty of speculation about what would happen with the Outlaws. Wulf addressed some of those topics Thursday.
                  “For the next two years Ted will still be involved with the company, maybe longer than that,” Wulf said. “He won’t necessarily be running the company. It hasn’t been determined yet what capacity he’ll have. I would imagine the current officials will continue what they’re doing.
                  “We’re looking at having 14 full-time teams next year,” Wulf added, which would roughly double the number of full-time teams this year. “We will have package point funds to make it very attractive for all of them. We will have a very attractive points fund, and an incentive package for the full field.”
                  There has also been speculation about the number of Outlaw events being cut from the current 100+ races a year, to possibly as low as 30 races a year. Wulf doesn’t expect the number to drop that drastically.
                  “It’s too early to set the schedule for next year,” he said. “We’re not going to see drastic changes for 2004, maybe for 2005. I would say right now we’re looking at the same number of races next year. If there are fewer races (in the future), I don’t think it will be 30 or 40 races. It might be 15 to 20 races fewer.”
                  Wulf noted Boundless has been around for about a year, and is looking at different aspects of motorsports such as developing a large racing complex in Texas.

                  Comment


                  • #10
                    Originally posted by dog-ring
                    Done deal according to Ralph Shaheen on Wind Tunnel tonight. Another oft overlooked fact is that Nelson Piquet is also an owner of Boundless hence the Brasil and South Africa reference. Could we be seeing that start of Brasillians in WOO?


                    I wondered,,,, what the hook up was,,, got ya Dog
                    Yes,,, Yes,,, Tony,,,

                    Your Grandfather was a friend of Roger Penske,,,

                    Your Grandfather did business with Roger Penske,,, but

                    Your Grandfather never trusted Roger Penske,,,

                    Comment


                    • #11
                      Ted Johnson got the Outlaws on the map, but he never had the foresight to take them where they should have gone. He seemed to be content keeping them just a provincial entiity. I once asked Ted about tv, during a show about 15 years ago at Eldora, and he was very short with me and said "well we are on tv" but that's when the replays were being shown on Diamond P.

                      I once took a NASCAR friend of mine to Eldora and he was absolutely in awe. He asked me why there weren't stadiums that held 50,000 to watch this. That was not his last trip to Eldora.
                      Have a very blessed day!

                      Comment

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