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Sprint Cup Team For Sale - $100k Finder's Fee
Location North Carolina,United States
Asking Price Range $10.0M - $20.0M
Gross Revenues $50000000
Net Profit / Cash Flow $0
Cash Flow Type EBITDA
Seller Finance Yes
Year Established 2007
Number of Employees 100 - 200
Inventory 40000000
Relocatable No
Number of Employees 100 - 200
Real Estate Owned
Training Yes.
Reason for Sale Owner is selling for tax reasons.
Description If you refer me to a buyer I will pay a $100,000 finder's fee.
Subject: NASCAR Sprint Cup Team 4 Sale w / 40 New Cars, 5 Transporters & Property (4.5 Ac+62K Sq Ft in 3 shops). The start up cost for a comparable program is $40-$50 million. Entity has zero debt. Terms are available and this will be treated like a cash offer. All cash is not as important as the transfer of title quickly. Phone (704) 663-3636 Cell: (516) 815-2800
This is time sensitive after 2011 this will not be evailable. Racing can be profitable. This was not run for profit. The sponsor owned the team. They may stay on with the right synergy and performance.
This is run like a Fortune 500 company.
This team is 100% complete, operating and championship capable for 2012 and beyond.
Terms ( half down) are available and 120 to 150% write off in compliance with IRS code. Technology and is packed with the best specialty equipment available which has a replacement cost of $9 million.
The property is appraised at $4.5 million and stocks $30 million in parts at replacement cost value. Large sophisticated in house equipment is permanently installed. Technology is Formula One quality as owner owns a Formula One team.
Price & value: Owner was asking $20 million 3 months ago, but due to the economic environment and the season winding down, that has dropped by 25% to $15 million. Over $200 million was invested in technology, equipment and new car development over the last 4 years on this operation. This owner is selling due to other interests. Terms are 50% down with balance negotiated. Liquidation value is estimated at $24 million.
The quality of this team is championship caliber. Time is of the essence. Highly qualified buyers may receive liberal terms. The seller is anxious to close and transfer ownership for tax reasons on advice from his accountants.
Click Here To Contact Seller
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