The company whose bid to buy the Miller Motorsports Park was rejected in favor of a deal selling the facility to a Chinese company has filed a lawsuit in 3rd District Court against Tooele County and the firm that won the bid.
Wyoming-based Center Point Management sued, alleging Tooele County broke local and state law by “basing its decision on future benefits of uncertain value” rather than a verifiable bid analysis.
Last month, Tooele County sold the 511-acre racing venue to Mitime Investment and Development Group, which is a subsidiary of the China-based automotive firm Geely Group of Cos. Mitime Investment agreed to pay $20 million for the motorsports park and announced it would reopen it on New Year’s Day and rename it Utah Motorsports Campus.
Center Point Management believes Tooele County is legally prohibited from selling to Mitime Investment based on the company’s promises to make large financial investments in the sports park. The promises are too vague to include in the bid consideration process, Center Point claims.
“Mitime’s promise in (its bid) to employ its best efforts to fulfill its intentions and goals regarding future development of the property is unenforceable, illusory and is of no clear, certain or present benefit to the county,” the lawsuit reads. According to Center Point, the company offered $27 million to purchase the facility and claims the county broke the law in agreeing to sell to Mitime for about $20 million.
The lawsuit lists other bids received by the county and states that, “Mitime’s bid was the lowest of all bids received.” The lawsuit asks the court to enjoin or set aside the sale.
Tooele County officials previously addressed similar complaints, stating that the additional promised investments enticed them to go with Mitime. “One specific number they threw in during the negotiations was $270 million of additional investment in the property itself over the next decade,” said Tooele County Commissioner Shawn Milne in August.
Wyoming-based Center Point Management sued, alleging Tooele County broke local and state law by “basing its decision on future benefits of uncertain value” rather than a verifiable bid analysis.
Last month, Tooele County sold the 511-acre racing venue to Mitime Investment and Development Group, which is a subsidiary of the China-based automotive firm Geely Group of Cos. Mitime Investment agreed to pay $20 million for the motorsports park and announced it would reopen it on New Year’s Day and rename it Utah Motorsports Campus.
Center Point Management believes Tooele County is legally prohibited from selling to Mitime Investment based on the company’s promises to make large financial investments in the sports park. The promises are too vague to include in the bid consideration process, Center Point claims.
“Mitime’s promise in (its bid) to employ its best efforts to fulfill its intentions and goals regarding future development of the property is unenforceable, illusory and is of no clear, certain or present benefit to the county,” the lawsuit reads. According to Center Point, the company offered $27 million to purchase the facility and claims the county broke the law in agreeing to sell to Mitime for about $20 million.
The lawsuit lists other bids received by the county and states that, “Mitime’s bid was the lowest of all bids received.” The lawsuit asks the court to enjoin or set aside the sale.
Tooele County officials previously addressed similar complaints, stating that the additional promised investments enticed them to go with Mitime. “One specific number they threw in during the negotiations was $270 million of additional investment in the property itself over the next decade,” said Tooele County Commissioner Shawn Milne in August.
Read more: The Enterprise - Losing bidder sues to halt race park sale
