SIOUX FALLS, S.D. (KELO-AM) – Payday loan magnate Chuck Brennan says he is selling Badlands Motor Speedway west of Brandon because of voter’s approval of a cap on payday loans.
In a release on the Badlands Motor Speedway Facebook page, Brennan said he is “reevaluating his economic presence in South Dakota” following the vote. Brennan owns Dollar Loan Centers.
He adds that he may sell other properties and businesses in the state and place them in other states where Brennan operates. Brennan also claims the vote has cost “hundreds” of jobs.
Brennan says he is a big racing fan and has invested $100 million dollars in Sioux Falls and $10 million into the race track, which was formerly Huset’s Speedway.
Asking price for the Brandon track is $9.75 million as a lump sum or $12 million if the buyer pays over six years. Brennan bought the track in April 2015.
“In the unlikely event that we are unable to sell the track before race season, Badlands Motor Speedway is NOT planning to race in 2017,” according to the release. “We will have the entire facility maintained and ready to go for a smooth transition when it happens.”
To read the entire release, click here.