Trio buys Moroso Motorsports Park

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News from MOROSO

Friday, August 29, 2008

Three self-described racing enthusiasts with business backgrounds announced Thursday that they have purchased Moroso Motorsports Park west of Jupiter.

The group plans to reopen the facility as "The All New Moroso Motorsports Park" this fall after renovations are completed.

"Both myself and my partners have been local motor sports enthusiasts for years, and we've participated in club activities at the park," said Joseph G. Lubeck, the track's new managing partner. "We felt this was a unique site and location. The facilities were in need of investment to upgrade and modernize. We felt it was a local treasure."

The Moroso family, which owned and operated the track since 1981, will serve in an advisory and "ambassadorial" role but will retain no ownership stake, according to the new owners.

"I am excited about the continuation of the Moroso legacy and am looking forward to my continuing role as a consultant and trusted adviser to the park," former owner Susan Moroso Strecker said in a statement.

Lubeck is an attorney and managing partner of investment funds focused on real estate. His partners, Raymond E. Graziotto and J.C. Solomon II, bring a background in real estate development.

Graziotto is a 1989 graduate of West Virginia University who serves as president and chief operating officer of Seven Kings Holdings, a real estate development firm based in Jupiter with more than 80 employees, according to the company's Web site.

Solomon, a 1974 WVU graduate in business, is listed as founder and chief executive officer of Seven Kings.

No purchase price was disclosed but the new owners say they are making "multimillion-dollar" investments. Enhancements will include new bathrooms and concessions as well as track improvements that will allow simultaneous use of the road course and drag strip.

The group's plans include the formation of a Palm Beach Driving Club, garages on site and a mix of public and private restaurants and amenities.

"We expect we will have the new tracks completed at the beginning of November," Lubeck said. "The grand reopening should follow thereafter."

High fuel prices and competition from other forms of entertainment have put pressure on local tracks across the country. Moroso, currently closed for construction, has drawn an estimated 1 million people per year and generated $25 million in annual economic impact in the past.

The drag strip is scheduled to reopen in time for the Ford Power Fest Oct. 18-19, said Kelly Birkenhauer, the park's vice president of sales. A complete overhaul of the road course is expected to be completed in November.​


http://www.palmbeachpost.com/sports/content/sports/epaper/2008/08/29/a1b_moroso_0829.html
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Sounds interesting. I'm hoping for the best on this one. Maybe Harri can add some more info on this one. :)
 
I wonder if the new owners will say "NO" to drifting at the NEW park??

I hope I am wrong but I know how new management thinks!

Harri better be on top of this so they understand the need of that roadcourse for our purposes
 
+1111111 Dude this crazy I definetly hope they still allow the drifitng I have been dying to try some 3 gear entries.
 
DRIFTING IS A GO!!!! dont worry about the drifting guys. my dad knows Raymond E. Graziotto one of the new owners. not only does he know him but former owner Susan Moroso Strecker is going to stay on board as advisor/consultant. so drifting = no worries and fun. im trying to put a 240 together for november first....... haha well see but deff by december. peace and i hope you like the good news!
 
From some old info that i heard about this is that they want to mke the track private and that you have to be a member of their private driving club to use moroso's facilitys. Im not sure this is true but i know i cant afford the membership fees that i heard about. So i hope track days continue there for us.
 
nice i hope they make some improvements to the park other then the course. It be nice if they added in better lighting and new bleachers, oh and some better food stands would be sweet too. maybe a place to get out of the sun other then the tiny thing they have now:bigthumbu
 
^^^^^^Maybe they will add more cloud cover as well.

Anyway, as long as we can slide there, I don't care who the new owners are. Just let us slide, and you are my friend.
 
SAS said:
nice i hope they make some improvements to the park other then the course. It be nice if they added in better lighting and new bleachers, oh and some better food stands would be sweet too. maybe a place to get out of the sun other then the tiny thing they have now:bigthumbu
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The lighting at Moroso is INSANE now. When they meant remodel, they really meant it. They tore down all the old lights and put in like I95 lights everywhere on the entire track. Plus they are building new buildings and like resteraunte style shops. Should be awesome.
 
FlyinFINN said:
The lighting at Moroso is INSANE now. When they meant remodel, they really meant it. They tore down all the old lights and put in like I95 lights everywhere on the entire track. Plus they are building new buildings and like resteraunte style shops. Should be awesome.
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Good, because the Turnpike lights they had were fail.
 
damn now i cant wait to hit that road course def gotta get an other set of coils before this shit reopens
 
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