Utah Motorsports Campus, which opened in 2006, has been sold to the Geely Holding Group of China. The Group sits 267th on the Fortune Global 500 list and (Geely Motors) is the largest private car maker in China, which also owns the the Volvo, Polestar, Proton (which includes Lotus), Lynk & Co and London Taxi Cab brands as well as the Terrafugia flying car brand.
This came after a vote by the Tooele County Commissioners, which resulted in an agreement to sell Utah Motorsports Campus to Mitime Utah Investment, LLC (Mitime).
The Geely Holding Group has made this aquisition as part of its wider plans in motorsport which includes building 10 similarly-sized racetracks in China; the first of which, the Ningbo International Circuit, opened in 2017. The second track is currently under construction.
Geely also owns and operates the FIA Chinese Formula 4 Championship and is preparing to launch an entry in the FIA World Touring Car Championship under the Lynk & Co banner.
“We are thrilled to finally consummate this agreement to purchase Utah Motorsports Campus,” said William Lee, vice president of Mitime. “This facility is a perfect fit with our company’s other enterprises, and we are looking forward to making it bigger and better in the future.
“We very much appreciate the efforts of Tooele County to make this effort come to fruition, and we are humbled by the outstanding support we have received from the people of Utah since we began operating the facility.”
“We are really excited about the future of UMC, and we have significant plans for the facility,” said Willem Geyer, CEO of UMC. “We are studying the viability of adding various race tracks, entertainment venues and supporting infrastructure that will not only solidify our position as one of Utah’s major entertainment facilities but also ensure that UMC will be a profitable venture for the first time in its history.”
The sale of UMC includes the racetrack as well as all buildings and physical assets in addition to the 511-acre property. Current leases with tenants, event organizers and race sanctioning bodies will be honored under the agreement but may be subject to changes in 2019.
In 2018 the track hosted MotoAmerica, Pirelli World Challenge, the Lucas Oil Off Road Racing Series and the AHRMA Bonneville Vintage Grand Prix, plus a full slate of amateur racing for sports cars, motorcycles, karts and off-road vehicles and a number of open track days for both cars and bikes.
In September, UMC hosted Travis Pastrana’s innovative Nitro World Games, including the world debut of Nitro Rallycross, which was a huge success. Non-racing events included two Lantern Fests, two big car shows and numerous corporate events.
The 2019 schedule of events for UMC will be released soon.
