New
owners and new management........
After
months of negotiations, an agreement has been reached to buy the assets of Labbate Enterprises Inc. The purchasing group
of Robert Costa, Lawren Jones and Bill Elliott have bought in as major share holders of Labbate Enterprises Inc. Bob
Labbate will be stepping down from his track manager position but will still be involved in some of the day-to-day activities.
In his place, Lawren Jones will take over managing and promotion of the track
The
New Mexico Land
commissioner, Patrick Lyons has assured the group that they will get a new (3) three year lease at the tracks existing location,
but with the understanding that the group will need to build a new track at a different location. Commissioner Patrick Lyons
will provide land for the group. The group's plan is to keep the current track operating for the purpose of generating
revenue and at the same time keeping a safe place to race for our racers. The excess revenue would then be used for
the construction of the new facility.
In
closing, we have a big job ahead of us but, we all feel very confident that we will get the job done. We are currently
working on a 2008 schedule and hope to have it done shortly.
Thank
you from the
Albuquerque Dragway
If
anyone has any questions or comments please email
Lawrenjones@comcast.net
