It's sad news. PBIR, back when it was Moroso, was the first track that I visited as part of the GRM staff. And my last visit was a TNiA just before the pandemic. Good times.
photosbyjuha.com
The owners of Palm Beach International Raceway (PBIR)–IRG Sports + Entertainment (IRG)–released a statement on Sunday, April 24. They said that the Last Lap celebration on April 23, was their last event before they close the track. IRG says that some of the South Florida track’s associated equipment, like the stands and bleachers, has already been sold.
Here’s their statement in its entirety:
April 24, 2022 – Palm Beach, FL – IRG Sports + Entertainment (IRG) today announced the official closure of Palm Beach International Raceway (PBIR).
PBIR has been privately owned since 1964, and during that time it has hosted great racers and racing moments. The racing community paid tribute to the track and its history on April 23rd at the Last Lap celebration, which was the final event at PBIR.
PBIR has faced continued financial difficulties over multiple decades. Many factors, including escalating insurance costs, fewer corporate event bookings, and declining attendance, have contributed to long-term business underperformance and the conclusion that the property’s highest and best use is not as a racetrack.
IRG engaged a professional commercial real estate advisor and ran an open and broad sales process which solicited significant interest from a wide variety of institutional investors. All serious proposals were for redeveloping the property within its existing industrial zoning use, but for purposes other than remaining a racetrack. There were no competitive bids from any groups interested in keeping PBIR open.
Every expert who analyzed the property in detail recognized the same thing: the increased employment, millions in new tax revenue to the County, and opportunity to serve the region’s growing critical infrastructure needs made redevelopment the clear path forward.
We are concerned there have been conflicting reports about PBIR’s future. As the property’s owner, to help members, sponsors, and the community appropriately plan for the summer, fall, next year and beyond, we want to be clear: PBIR’s closure is final.
We have officially communicated the finality of the closure to our small, dedicated group of employees. All equipment, including the stands and bleachers, has been sold.
Thank you to everyone who helped make PBIR what it was, and we appreciate and support efforts to continue racing at other nearby locations.
The next step: a zoning meeting on September 22, and here are some photos from that Last Lap celebration.
Juha Lievonen photo
Juha Lievonen photo
Juha Lievonen photo
Juha Lievonen photo
It's sad news. PBIR, back when it was Moroso, was the first track that I visited as part of the GRM staff. And my last visit was a TNiA just before the pandemic. Good times.
It sure seems like track closures are on the rise. While not the same, Houston Raceway Park held it's last NHRA event and will become warehouses. I am sure the reasons behind selling and closing are very similar.
I think, at the end of the day, it’s all about the money. If someone came to PBIR with a suitcase full of cash, things might be different.
It totally is about the $$. Our local country club track Harris Hill has housing being built all around it and the land value is rising rapidly. I see that as a casualty in the next 3-5 years. We lost Texas World to the same fate a while ago.
In reply to David S. Wallens :
Last week was a sad one for me, as Easter Sunday was the last night of racing at Pompano Park, the only remaining harness track in Florida, or anywhere in the southeast.
The photo that I use for my avatar was taken there.
I continued watching some YouTube videos after I watched the final race and the commemerative video. I saw video of myself swimming a horse in the therapy pool, and another video with my late brother bathing a horse.
Yeah, I didn't need to see this. I'd been planning to drive to WPB to autocross on the Kart track.
Housing is getting closer to PBIR as well so it was going to happen eventually. I'm in west Jupiter and prices here have exploded. The rest of south Florida has been built out and it's coming north. Sad but true.
In reply to Floating Doc (Forum Supporter) :
No harness racing at Gulfstream Park in Hallandale?
Covid really put a hurting on tracks of all types everywhere in the country. So it isn't surprising that some which were not very profitable have found themselves in a bad financial position.
So what happens to those tall endangered birds that used to come up and stand with groups of folks as if they were part of the conversation?
A couple years from now the county people will be wondering why so many of the local automotive related businesses close or move as the machine shops, chassis shops, kit car builders, race shops, dyno tuners, and others who have customers that frequented the track slowly spend less and less. There are a lot of shops that will be affected along the I-95 corridor from Pompano Beach up to Rivera Beach.
Slippery said:In reply to Floating Doc (Forum Supporter) :
No harness racing at Gulfstream Park in Hallandale?
Thoroughbred racing only.
Floating Doc (Forum Supporter) said:Slippery said:In reply to Floating Doc (Forum Supporter) :
No harness racing at Gulfstream Park in Hallandale?
Thoroughbred racing only.
Harness racing seems to be dying everywhere. Well, horse racing in general does, but harness racing seems to be going faster.
I want to get back to the OTB, but I always went with my FIL who has been in the hospital for months.
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