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New Owner To Keep Waterford Open
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Waterford Speedbowl has a new owner who plans to keep the 64-year-old racing facility open for business.
Bruce Bemer, a 60-year-old Connecticut business owner, purchased Waterford Speedbowl last Saturday during a foreclosure auction held at the track. Bemer purchased the track for $1.75 million according to RaceDayCT.com.
Following the auction it was announced to the gathered crowd that Waterford Speedbowl would remain a race track under Bemer’s ownership. There were fears that the track would be purchased and promptly closed by whomever purchased it.
Bemer’s bid for the track must be accepted by a judge overseeing the foreclosure action before it becomes official.
Previous Waterford Speedbowl Terry Eames owes approximately $1 million to Rocco Arbitell, who provided financing to Eames in 2007 so that the track could avoid foreclosure. Eames also owes about another $1 million to other creditors.
Bruce Bemer, a 60-year-old Connecticut business owner, purchased Waterford Speedbowl last Saturday during a foreclosure auction held at the track. Bemer purchased the track for $1.75 million according to RaceDayCT.com.
Following the auction it was announced to the gathered crowd that Waterford Speedbowl would remain a race track under Bemer’s ownership. There were fears that the track would be purchased and promptly closed by whomever purchased it.
Bemer’s bid for the track must be accepted by a judge overseeing the foreclosure action before it becomes official.
Previous Waterford Speedbowl Terry Eames owes approximately $1 million to Rocco Arbitell, who provided financing to Eames in 2007 so that the track could avoid foreclosure. Eames also owes about another $1 million to other creditors.
