rumor about Volusia

[Boneman]

---WARNING-----RUMOR-----WARNING----RUMOR

I heard this second or third hand. Even though Volusia Speedway Park is running a successful operation, its parent company, Dirt Motorsports, is in financial trouble and may go bankrupt. It appears that VSP may be sold. Nothing is set in stone.

Has anyone else heard anything?

[Frasson118]

Same rumor goes around every year about DIRT/World Sports Group (or whatever they are called now). It's true that they did spread themselves very thin in the cash department, buying racing series, ractracks, etc... but as far as I know, they have yet to miss any payments, haven't bounced any checks, and all drivers have been paid every dime promised to them. If anything, they need to quit spending, and start collecting on the investments they've already made.

Bottom line is, don't believe the rumors just yet. I hear the same ones every year, and each year, they are back.

Also, if it DID go up for sale, I'm sure it wouldn't be until AFTER Speedweeks. They make a killing during those 2 weeks, and would be fools to bail out without collecting that check first.... and if nothing else, they are NOT fools!

[HaudFan]

While the stock currently at .42 a share is far from setting the world on fire. They did announce last week at the PRI Show that Advance Auto Parts would be the title sponsor for the World of Outlaws. However, they have been on the prescipice since they took over from Ted Johnson. They also made the following release earlier in the year:

CONCORD, N.C., Sep 27, 2007 (BUSINESS WIRE) -- DIRT Motor Sports, Inc. d/b/a World Racing Group (DMSP) today announced the completion of the sale and issuance of $12 million of its 12.5% Senior Secured Notes maturing March 15, 2010 (the "Notes"). The proceeds from the financing will be used to retire certain short term notes issued in 2007, to repay certain debt outstanding issued in connection with the Company's speedway acquisitions, to repay debt incurred in the acquisition of the DIRT Northeast operation and to meet the Company's working capital needs in 2008.

In connection with the Note Purchase, the Note Holders were also issued 275,000 restricted common shares or common share equivalents, for each $1 million of principal invested in the Notes. Under the note purchase agreement, the Company may issue up to an additional $3 million in Notes to be used to pay down the remaining mortgage debt or to be used in connection with certain strategic transactions.

"A group of existing investors and several new investors participated in this financing," said Brian Carter, the Company's Executive Vice President and Chief Financial Officer. "This financing provides the resources to execute our operating plan for 2008. By the end of 2008, we expect to be self sufficient and less reliant upon the capital markets to fund our working capital needs. Our plan will be continuously refined to meet the needs of our growing business and will build on the successes achieved in 2007, particularly the expansion of our touring series events and television broadcast schedules.

I always said I would buy stock, just so I could give them a hard time about being part of the ownership.

[Frasson118]

$0.42 a share? I might be able to pony up for 10 shares of that myself. If I get REAL wild, maybe I'll get 100 shares!