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IMPORTANT UPDATES AND PRESS RELEASES

Project Update: 11.11.09

On September 14, 2008, the crash of Lehman Brothers changed the financial markets in a way not foreseen in modern times. The financial, real estate and construction sectors were all hit hard. A start-up such as Bluegrass Motorsports Park has to run the gauntlet in all of these sectors to be able to open. Because after all, any way you cut it, constructing a motorsports park is a real estate based project. As such, this has presented unforeseen challenges to the owners to bring the first phase of this project to completion for the planned 2009 season. With this behind us, we now must look forward to 2010.

We had a significant delay earlier in the year relating to the federal permitting as was discussed on our web site. Thankfully, this issue is behind us. The primary reason and the one affecting us today is that we have been slowed down by banking issues that arose in the current economic environment. The terms proposed by our original bank had changed many times that it continued to put the project and owners at risk. As a result, the project has been moved to a new bank to finalize the remaining funding to complete the track in basic operational form. Our loan has been approved and we are literally down to negotiating the final terms to bring about the loan closing. This will finish the paving, safety, and related matters to open the track for operations.

We appreciate your support and patience and will be back with a further update after the loan closing and a date the construction will be back on site. The project is very much alive and moving forward despite the unforeseen hurdles we have had to jump. Thank you.

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http://www.greywinds.com

Still not holding my breath.

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Todd Breakey
STS 42 - 1992 Sunburst Miata
Dammit!
"You souldn't play leap frog with a porcupine. You might get hurt." - Eliza

That's about what I was thinking.

Sounds like it'll be about as basic (in terms of facilities) as CMP used to be, and Roebling. Not sure that'll make it worth the tow.

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Stacy King
Midlife Crisis Participant

As long as they have long range plans and stick to them I can see them starting out as a basic facility.

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Marty Howard
2011 NASA SE Factory Five Challenge Champion
Track Events Logistics Coordinator - TZC/THSCC
2007 Factory Five Challenge Car.
http://www.mh-motorsports.com