PIR News

Well, if there is going to be a past promotional company involved/used.......we know how well that turned out.
Declining, to none existent, spectators....little to ineffectual advertising.......begets pro-racing extinct at PIR.
(Not holding my breath on this one)

Now I am going to my happy place.
 

Lance Richert

Well-known member
The NASCAR K&N race was 4th tier actually (LOL), but was still pretty cool to be part of. They'll get it figured out eventually. A number of tracks are doubling as concert venues for extra revenue. Don't see where you could stick that at PIR though. These things have to be multi-use these days to work.
 

Steve Adams

Just this guy, ya know?
Not to speak for Randy (but I'll do it anyway), but I think he's referring to the city officials. The mayor punted the discussion off to the Parks Department (whose venue it is) and they're not, in their own words, in any hurry to even evaluate the proposal, much less talk with the interested parties or do anything else substantive. When you consider the potential revenue for the city at a time when tax revenues are down, it's a little baffling that they don't seem to give a sh*t.
 

kyle_nickels

"The Okie"
FOPIR???? Where have they gone? The Parks Bureau probably doesn't have the money or time to look into this, they are making money on PIR as it is, and with the Police Bureau looking to add on to the facility it may not be something they would consider.
 

clintonracing

something witty
Not to speak for Randy (but I'll do it anyway), but I think he's referring to the city officials. The mayor punted the discussion off to the Parks Department (whose venue it is) and they're not, in their own words, in any hurry to even evaluate the proposal, much less talk with the interested parties or do anything else substantive. When you consider the potential revenue for the city at a time when tax revenues are down, it's a little baffling that they don't seem to give a sh*t.

For how successful PIR has been over the last 50 years as a public venue, I have my doubts that a private management company will do any better. At least with a public venue, decisions are made relatively slowly. This occasionally gives us (the public) an oppurtunity to support or oppose whatever is being debated. With a private venue, forget about having a voice on any matter related to the track.

I'm with Ken (which rarely or never happens)... Let'em pack sand!
 
You're too kind...

Here's a pretty good assessment (I think) from the "Verifier" as a comment on the story as it was on the Oregonlive site.

"OK, for you brain surgeons that can't figure this out, do the math on what the article says: $225,000 annual lease minus $100,000 annually in rent credits during the first four years = $125,000 rent. Then "The company ALSO would get a rent credit of 80 percent for any improvements made specifically to the racetrack." So if they make, for example, $150,000 in other improvements they get a credit of $120,000 for that and only pay the city $5000 A YEAR in rent.

The improvements make the track nicer so they can charge event ORGANIZERS more and the public more money to attend, so the company makes more $$ and pays almost NOTHING for rent. And for that, Pook and his company keep 92.5% of the profits, ON A VENUE THEY GET FROM THE CITY FOR PRACTICALLY FREE. It's like renting an office to a company for zero dollars but getting a small portion of the "profits." ALSO, city gets 7.5% of "gross annual profits", not gross revenues. That means Pook can pay himself a MILLION $$ a year as company president if he wants, and thus reducing company "profits" but making him a rich man at the expense of the city.

This is the same SCAM that "Portland Family Entertainment' did with PGE park about 10 years ago. PFE company heads took large salaries during the few years they were in business and the city got basically nothing. Which is probably why POOK's proposal is not to pay property taxes for the first 3 years...then if the company goes under after 3 years, they paid NO property taxes at all. So wake up people, figure it out----it's a "Get me rich QUICK" proposal from Pook at the cost of public money. HOPEFULLY Commissioner FISH can figure it out as fast as I did!!! It's all there in the math......"

FWIW
 

Steve Adams

Just this guy, ya know?
Well, that's certainly a different kettle o' fish, if it's accurate. (Jeez, now I'M agreeing with Ken!)
 
I wonder if "The devil's in the details." is an appropriate context?

homestar_seriously.jpg
 
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