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Geely Subsidiary Buys Miller Motorsports Park for $20 Million

Motor Trend logo Motor Trend 8/20/2015 Jason Udy

Miller Motorsports Park, the home of Ford Performance Racing School as well as host to several motorsports events, has been sold to Chinese-based Mitime Investment and Development Group for $20 million, The Salt Lake Tribune reports. Mitime is a subsidiary of the Geely Group of Companies, owners of Volvo.

Miller Motorsports Park© Provided by MotorTrend Miller Motorsports Park

In May, the Larry H. Miller Group of Companies announced it would not renew its lease on the facility located about 30 miles west of downtown Salt Lake City. The 511-acre facility includes a reconfigurable 4.5-mile race track, a smaller go-kart track, a rock crawling course, an automotive museum, supporting facilities, and more.

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The news was announced by Tooele County commissioners at a regularly scheduled meeting this week.

"The commission recognized early on that we cannot afford to have the facility close," Tooele County Commissioner Shawn Milne, said in a statement read at the meeting. Milne played a key role in finding a new owner for the track.

Initial plans for the track include continuation of racing operations with no plans to cut any existing jobs. Currently, Miller Motorsports Park has 90 employees with hundreds more working in satellite businesses that support the facility. The facility will eventually serve as a campus for new and existing Geely drivers, mechanics, and track personnel in China’s growing motorsports. The new owners plan to add a hotel, oval test track, and a drag strip to the property.

"This is the ideal place for us to train people," said Alan Wilson, track designer and former general manager, who helped broker the sale. "We intend to keep Miller Motorsports Park as you know it, operating at or above the level it is today,"

In response to a question if Mitime had made the highest offer for the racetrack, commissioner Wade Bitner said that the county evaluated “proposals, not bids.” The deal could bring in around $1 billion to the county over the next 25 years.

"From the beginning," Milne said, "we have viewed a new owner with passion for racing and a long-term vision of continued investment as the best possible outcome… That has remained our driving force during consideration of these proposals."

Larry Miller, who died in 2009, opened Miller Motorsports Park in 2006.

Source: The Salt Lake Tribune

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