Racing enthusiasts in Utah were understandably disappointed when Miller Motorsports Park announced in May that it would close before the end of the year. Well, now they can thank the Chinese for saving their beloved racing facility, because Chinese automaker Geely has just bought the park for a cool $20 million.
As KUTV reports, Geely Holding Group, the investment firm that owns Geely, China’s largest domestic automaker, has purchased MMP and plans to immediately invest $6 million to $8 million for improvements. The track will not only remain open, but Geely plans to build add a drag strip and will also invest heavily in other developments in the area.
Geely plans to invest in the track and will also promote Chinese tourism to the Tooele County and the surrounding area. The company is hoping the plan will generate up to $1 billion in revenue over the next 25 years. Additionally, buying the track will help Geely, owner of Volvo, to better understand how to run a racetrack. The automaker also plans to test racecars at the track.
Creative Commons photo via Mike Renlund on Flickr!