Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: FRIDAY, July 2, 1993 TAG: 9307020229
SECTION: CURRENT PAGE: NRV-1 EDITION: NEW RIVER VALLEY
SOURCE: KEVIN KITTREDGE STAFF WRITER
DATELINE: RADFORD LENGTH: Medium
Ronnie Snoddy and John Frazier signed the papers on Tuesday, they said Thursday morning.
The two men - managers and part-owners of several Fisher Auto Parts stores around Charlottesville - both were at the speedway Thursday.
They said no immediate changes are planned at the 6-year-old, .41-mile track - though eventually they hope to add a drag strip.
Fans of the racetrack should not notice any change, they said.
"We'll do whatever we can to keep them happy, especially the spectators and the competitors," Snoddy said. "If they're not happy, we're not going to be here."
The two also plan to aggressively pursue customers from the Roanoke area, they said.
They would not reveal the track's selling price.
Estimates of the worth of the track range from $1.2 million to $2.5 million. It is one of about a half-dozen NASCAR Winston Racing Series tracks in the state.
The original owner, Steve McMurray, filed for chapter 11 bankruptcy protection for the speedway in April 1991. The track was surrendered to its creditors six months later.
Court documents showed at the time the speedway was more than $2 million in debt.
"It's turned around a lot," said Snoddy of the track's financial health. "The crowd is pretty good now. . . . I don't have anything bad to say about Steve McMurray. He comes to races on Saturday nights."
After McMurray's departure, creditors chose Clay Campbell, president of the Martinsville Speedway, to manage the track.
Campbell will stay at least through this season, as will Karen Sifford, the track's assistant manager, Snoddy said.
"Clay and Karen have done a real good job turning things around," Snoddy said. "We don't want to take anything away from them. They've done a tremendous job."
Campbell was in Florida Thursday and unavailable for comment.
Danny Hardy, a spokesman for the track's principal creditor, the First National Bank of Christiansburg, said he could not comment.
Snoddy, a 39-year-old bachelor, is a former driver who sells racing tires in addition to running his auto-parts stores.
Frazier, 53, is married with two children. He has been a race-car owner.
Both are long-time racing fans. "I went to my first drag race in 1959," Frazier said.
The two men said they have been interested in the Dublin track since February and have attended Saturday-night races. They have no immediate plans to move to the area.
Snoddy said they would meet with sponsors, but they do not intend to do anything special this Saturday night to announce the change in ownership.
by CNB