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Archives for December 2015

New Jersey Motorsports Park Makes Major Financing Announcement

New Jersey Motorsports Park Makes Major Financing Announcement Placing Millville Facility on the Fast Track to the Forefront of the Industry

Refinance transaction will secure future development of the racing and entertainment complex

Millville N.J- New Jersey Motorsports Park Managing Members Lee Brahin and RJ Valentine have today announced that NJMP has completed a mortgage refinance.  This transaction which was first initiated in 2014 has substantially reduced the facility’s mortgage balance and debt service payments. Additionally ownership has acquired the equity interest of the former investment bank partner. With this exciting change New Jersey Motorsports Park will command the future growth and operations at the 500-acre premier racetrack and entertainment facility located in Millville New Jersey.

In a statement from RJ Valentine he commented, “Of course we’re all thrilled to finalize the last step of our financing component for this amazing racing facility. It positions us all for a very positive and profitable future.”

In this announcement the park announced the sale of membership interests to new partners that have joined the ownership group. “During the refinance process we offered an opportunity to join the ownership group to a limited and targeted group of potential business partners.  The ownership team lead by Lee Brahin and Richard Valentine will provide a high level powerful team that will have a great impact in the racing industry during 2016 and beyond

In addition, chief operating officer and general manager Brad Scott will also join the ownership group and work closely with managing members Lee Brahin and RJ Valentine leading the facility into the future. Mark Verrastro of Haddonfield N.J has joined the management team as the general manager and will handle the day to day operations at New Jersey Motorsports Park.  “I am excited to join the NJMP team, the potential for growth of this facility is unlimited” says Mark Verrastro.

“This is what we have been working diligently to accomplish”, says Lee Brahin managing member. “The future of New Jersey Motorsports Park and the potential for future development is very exciting. We applaud the dedication of all those involved to seeing this to fruition and would like to especially thank our friends at TD Bank and the USDA for helping to make this happen. We now have a 15 year fully amortizing loan which is one third less than the facility’s original loan balance. The loan is partially guaranteed by the USDA providing NJMP with savings and certainty going forward.”

New Jersey Motorsports continues to grow and expand the motorsports entertainment facility.  Presently under construction is a 15,000 square foot performance racing service facility located to the left of the main entrance area. This exciting addition to NJMP is scheduled to open in spring 2016.  Forty 7 Motorsports will provide high performance automobile and motorcycle service and will offer storage services for the racing enthusiast.  In other development news the Exotic Car Garage project has sold out phase I in March 2015 and phase II and phase III are expected to go under construction in spring/summer 2016. The Exotic Car Garage project has been a welcomed addition to the complex providing garage to the buyers who want to get their cars ready for the track and have a place to rest up for the next action packed day. These units have been touted at “the ultimate man cave” geared to those with that need for speed.  Some owners have included kitchens and entertainment areas. The sky is the limit as far as customization of the units, “if you can dream it, we can build it” says Brad Scott Chief Operating Officer. The park has also announced that it will begin to seek a ten year naming rights deal for the 500 acre facility.

Since its opening in 2008 New Jersey Motorsports Park has continued to grow and diversify in the services offered and has become a world class venue. In addition to automobile and motorcycle racing events the 2015 schedule included concerts, mud runs, car shows, wine tastings and many other off track events. The catering division of the facility hosts events year round from weddings to holiday parties, the list is endless.  In addition to Go-Karting at NJMP, the Battlegrounds Paintball field was added in 2014 as well as a luxury swimming pool to the clubhouse grounds. NJMP is on the top list of corporate get away and team building destinations in the tri-state area incorporating all of the amenities that are offered as well as top notch catering selections to the total package.

Double-Double: Two New Jersey Rounds For MotoAmerica

The MotoAmerica AMA/FIM North American Road Racing Championship likes New Jersey Motorsports Park (NJMP) so much it will return to the venue not once but twice in 2016.

Press Release by Paul Carruthers, MotoAmerica

New Jersey Motorsports Park will host rounds three and nine of the 2016 series, April 29-May 1 and September 9-11. Combine those two events with the seven rounds previously announced and the MotoAmerica series is now finalized for the coming season with nine championship rounds.

NJMP and its 2.25-mile Thunderbolt Raceway is a favorite among the riders and teams and has been a staple of the AMA Superbike series since 2009. It has also served as the series finale the past two years, including this past September when Monster Energy Graves Yamaha’s Cameron Beaubier wrapped up the first-ever MotoAmerica Superbike title.

“I’m excited to be going to New Jersey twice this year,” Beaubier said. “I’ve had a lot of success there in the past and I’ve been able to wrap up two of my championships at NJMP, so it’s a special place to me. There are a lot of passionate fans in that part of the country and it will be nice to give them two chances to see us in 2016.”

2016 MotoAmerica Series Schedule

April 8-10: Circuit of The Americas, Austin, Texas (MotoGP World Championship)

April 15-17: Road Atlanta, Braselton, Georgia

April 29-May 1: New Jersey Motorsports Park, Millville, New Jersey

May 13-15: Virginia International Raceway, Danville, Virginia

June 3-5: Road America, Elkhart Lake, Wisconsin

June 10-12: Barber Motorsports Park, Birmingham, Alabama

June 23-25: Utah Motorsports Campus, Tooele, Utah

July 8-10: Mazda Raceway Laguna Seca, Monterey, California (Superbike World Championship)

September 9-11: New Jersey Motorsports Park, Millville, New Jersey

Having two races at NJMP will give MotoAmerica double the opportunity to serve what is a large portion of the motorcycle market in the US, with the 500-acre complex located near Philadelphia and New York City.

“New Jersey Motorsports Park was the perfect place to end our debut season in 2015,” MotoAmerica partner Chuck Aksland said. “And we think it’s the perfect venue to hold two rounds in 2016. We believe the fan base will not only support two races, they will embrace it. We’re excited to be going to that area of the country twice for a racetrack and facility that our teams, riders, and staff look forward to going to.”

NJMP is also looking forward to having two MotoAmerica events on its 2016 calendar.

“We are thrilled to be hosting two MotoAmerica races for the 2016 season,” said Brad Scott, Chief Operating Officer of New Jersey Motorsports Park. “MotoAmerica is our largest spectator event to date, and this will bring two times the Superbike excitement for our fan base next season. We are planning more off-track activities for both events to keep the fun and energy in high gear throughout the race weekends.”