Hisense Named Official Partner of FIFA Club World Cup 2025
01 Nov 2024 16:40
Mitime Utah Investment LLC, a subsidiary of Chinese motor conglomerate Zhejiang Geely Holding Group, has had to halt its planned purchase of Miller Motorsports Park in Utah, according to a report posted last Friday by Sportrider, a media that focuses on sportbike news and reviews.
As reported by local news media in Salt Lake City, Tooele County Third District Judge Robert Adkins ruled in favour of Center Point Management, the Wyoming-based development company that lost out on buying the property during the bidding process several months ago.
The Tooele County Commission voted in favour of selling the property to the Chinese corporation for $20 million two months ago. The plaintiff Center Point, another bidder for the park, believes that the sale did not go to the highest bidder, violating local ordinances and state law that prohibit the sale of County-owned property for anything less than full and adequate consideration.
The plaintiff will reportedly continue with its pursuit of the purchase of Miller Motorsports Park, and is said to have upped its bid to $28 million (from the original $27 million); there was no word whether Mitime would be increasing their bid.
Source:Sportrider
Proofread by John Devlin.
The United States Tops Skema Publika's First Annual Sport and Soft Power Ranking
27 Mar 2025 14:05
When New tournaments Meets New Tech, the Old Friend of Football Has New Stories
14 Jul 2025 12:36
Related coverage
Is China amusing sports to death?
09 Nov 2015
Huawei’s Honor appoints Saina Nehwal as ambassador
07 Apr 2016
Chinese investors to acquire majority stake in Sintrense
08 Jul 2016
Ermenegildo Zegna to sponsor Chinese soccer
30 Aug 2016
Alisports, Shiqi ally with Tongling in smart sports town
30 Aug 2017
More from Yutang Sports
The United States Tops Skema Publika's First Annual Sport and Soft Power Ranking
27 Mar 2025
Hisense Named Official Partner of FIFA Club World Cup 2025
01 Nov 2024
When New tournaments Meets New Tech, the Old Friend of Football Has New Stories
14 Jul 2025
SPORTACCORD confirms Istanbul as Host City for 2025 Convention
13 Mar 2025
Yutang Sports
loading...