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http://www.niagarafallsreview.ca/PrintArticle.aspx?e=1514379
NASCAR star linked to Fort Erie speedway proposal
Updated 1 day ago
New details surrounding a proposed $200-million, 65,000-seat international motor speedway in Fort Erie have surfaced.
An article published in the inaugural edition of Professional Motorsport Circuit, an international trade journal, says NASCAR driver Jeff Gordon is involved with the project . Gordon's name has been tagged with a signature speedway and a driving school that's part of the proposal.
The article is attributed to by Azhar Mohammad – executive director of Emirates Consulting, a Toronto-based subsidiary of Kuwaiti-based investment bank Bayt Al Mal Investment Co., that is financially backing the project.
Mohammad could not be reached for comment Tuesday.
"After carefully studying the pitfalls and successes of motorsport initiatives in the North American market for almost two years, (Bayt Al Mal Investment Co.) assembled a high-profile team," the article states.
"The team was spearheaded by multi-NASCAR champion Jeff Gordon, flanked by Paxton Waters Architecture, Derek Daly Design, and Phillips Engineering, and supported by a host of local and international strategic partners."
Last October, plans were announced for a motor speedway on lands near the QEW, between Gilmore Road and Bowen Road.
Bayt Al Mal, which has been assembling more than 600 acres of land for the project, has done numerous environmental, planning and engineering studies to support its application and has invested several million dollars. The proposal is working its way through the Town of Fort Erie's planning department.
Fort Erie Mayor Doug Martin confirmed there has been talks with Gordon's representatives.
"We have met with them at the region, they have been here," Martin said Tuesday.
"Through the proposal that’s obviously coming on, we were aware that they were in talks with Jeff Gordon's (people)."
According to article, the speedway, which Mohammad described as the Canadian Motor Speedway, will benefit from its unique location – just six kilometres from the Canadian/U.S. border in the centre of a market encompassing 125 million people within a 50-mile radius. Being only 10 minutes from world-famous Niagara Falls, Mohammad said the speedway would become North America's motorsport entertainment destination.
He said the facility is set to open for racing in the summer of 2011, and has already sparked the interest of major race sanctioning organizations that are keen to capitalize on the Canadian and eastern U.S. fan base.
The property will be developed in a way that would allow for additional uses and venues.
Due to the sensitive nature of content negotiations, however, Bayt Al Mal will not disclose the specific race events to be held at the facility.
Jim Thibert, general manager of Fort Erie's Economic Development and Tourism Corporation, told The Niagara Falls Review he was surprised to see the article in the racing magazine, but acknowledged it's a "very good summary for everybody to take a look at.
"If you read this, you pretty much know it all," he said.
Thibert has been involved in private meetings with the proponents for months now, as well as trying to sell the plan to the provincial government.
"Part of our problem right now is that I shouldn't be necessarily talking about (the proposal) too much because there is an application in front of (Fort Erie) council now for zoning," said Thibert. "There will be a period of official discussion on it and, of course, public input."
Thibert said he can't comment on when development is expected to begin or if the facility would open in 2011.
"They have been working studiously towards this for about three, almost four years. It's nice that they apparently have a contract with Jeff Gordon ... and that will be good."
Thibert said the players referenced in the artcle are reputable names in the industry.
"Paxton Waters is a world-acclaimed architect who has done many tracks and (there's) probably nobody more qualified ... to do the project than this," said Thibert. "From the position of at least the Economic Development Corporation, we're really pleased to see the thing come together with the calibre of people and the calibre of skills that are here."
The Bayt Al Mal plan is one of three, seperate proposals to build a motor speedway on rural lands along the Queen Elizabeth Way between Niagara Falls and Fort Erie.
The Niagara Falls Review learned through sources last week that another investment group is preparing to bring a proposal to Niagara Falls council in the coming weeks to develop a racetrack on a 93-hectare parcel of land on Sodom Road.
Ken Mech, manager of current planning for the City of Niagara Falls, told The Review that a group of "Ontario investors" want to build a 5.6-kilometre road course on land bounded by Bossert Road, Sodom Road and the QEW that could be available for IRL racing.
IRL stands for Indy Racing League, an American-based open-wheel racing series, which includes the popular Indianapolis 500.
Thibert said there is another proposal for a racetrack inside the Fort Erie boundary, but would not share details of the plan.
He said the provincial government is being asked to support the Bayt Al Mal project by paying for some of the off-site upgrades.
Both Thibert and Martin pushed the case with Ontario Minister of International Trade and Investment Sandra Pupatello while the three were in Dubai. Pupatello was then the province's minister of economic development and trade.
"It's no surprise to the province that ... as the Bayt Al Mal group verifies they have the land, they have the zoning, they have the servicing capability, they have the revenue and they have the expertise to put this together, that we would be championing their efforts to convince the province about the scope and value of the project and that the province do go forth and do the off site public works," said Thibert.
"(The province has) the option of enforcing a policy where developers pay for development. But because this is going to be so significant to the region's economy and to Ontario's economy, and to our international marketing, perhaps it's best for Ontario to move it along and make that commitment.
"This is the first track of the 21st century and I think it's going to be a real asset to the community."
When asked if 2011 is a realistic timeline for such a massive project to be up and running, Martin said: "Yeah, as long as we get the approvals going.
"(Bayt Al Mal has) been going along their path to make this thing work, (and) we at the town have done what we can to support them.
The mayor continued: "Their applications are in. We are working with the region ... to do what we can to ensure the fact that they’re applications are going through the process as quickly as we possibly can within the planning regulations that are there."
NASCAR star linked to Fort Erie speedway proposal
Updated 1 day ago
New details surrounding a proposed $200-million, 65,000-seat international motor speedway in Fort Erie have surfaced.
An article published in the inaugural edition of Professional Motorsport Circuit, an international trade journal, says NASCAR driver Jeff Gordon is involved with the project . Gordon's name has been tagged with a signature speedway and a driving school that's part of the proposal.
The article is attributed to by Azhar Mohammad – executive director of Emirates Consulting, a Toronto-based subsidiary of Kuwaiti-based investment bank Bayt Al Mal Investment Co., that is financially backing the project.
Mohammad could not be reached for comment Tuesday.
"After carefully studying the pitfalls and successes of motorsport initiatives in the North American market for almost two years, (Bayt Al Mal Investment Co.) assembled a high-profile team," the article states.
"The team was spearheaded by multi-NASCAR champion Jeff Gordon, flanked by Paxton Waters Architecture, Derek Daly Design, and Phillips Engineering, and supported by a host of local and international strategic partners."
Last October, plans were announced for a motor speedway on lands near the QEW, between Gilmore Road and Bowen Road.
Bayt Al Mal, which has been assembling more than 600 acres of land for the project, has done numerous environmental, planning and engineering studies to support its application and has invested several million dollars. The proposal is working its way through the Town of Fort Erie's planning department.
Fort Erie Mayor Doug Martin confirmed there has been talks with Gordon's representatives.
"We have met with them at the region, they have been here," Martin said Tuesday.
"Through the proposal that’s obviously coming on, we were aware that they were in talks with Jeff Gordon's (people)."
According to article, the speedway, which Mohammad described as the Canadian Motor Speedway, will benefit from its unique location – just six kilometres from the Canadian/U.S. border in the centre of a market encompassing 125 million people within a 50-mile radius. Being only 10 minutes from world-famous Niagara Falls, Mohammad said the speedway would become North America's motorsport entertainment destination.
He said the facility is set to open for racing in the summer of 2011, and has already sparked the interest of major race sanctioning organizations that are keen to capitalize on the Canadian and eastern U.S. fan base.
The property will be developed in a way that would allow for additional uses and venues.
Due to the sensitive nature of content negotiations, however, Bayt Al Mal will not disclose the specific race events to be held at the facility.
Jim Thibert, general manager of Fort Erie's Economic Development and Tourism Corporation, told The Niagara Falls Review he was surprised to see the article in the racing magazine, but acknowledged it's a "very good summary for everybody to take a look at.
"If you read this, you pretty much know it all," he said.
Thibert has been involved in private meetings with the proponents for months now, as well as trying to sell the plan to the provincial government.
"Part of our problem right now is that I shouldn't be necessarily talking about (the proposal) too much because there is an application in front of (Fort Erie) council now for zoning," said Thibert. "There will be a period of official discussion on it and, of course, public input."
Thibert said he can't comment on when development is expected to begin or if the facility would open in 2011.
"They have been working studiously towards this for about three, almost four years. It's nice that they apparently have a contract with Jeff Gordon ... and that will be good."
Thibert said the players referenced in the artcle are reputable names in the industry.
"Paxton Waters is a world-acclaimed architect who has done many tracks and (there's) probably nobody more qualified ... to do the project than this," said Thibert. "From the position of at least the Economic Development Corporation, we're really pleased to see the thing come together with the calibre of people and the calibre of skills that are here."
The Bayt Al Mal plan is one of three, seperate proposals to build a motor speedway on rural lands along the Queen Elizabeth Way between Niagara Falls and Fort Erie.
The Niagara Falls Review learned through sources last week that another investment group is preparing to bring a proposal to Niagara Falls council in the coming weeks to develop a racetrack on a 93-hectare parcel of land on Sodom Road.
Ken Mech, manager of current planning for the City of Niagara Falls, told The Review that a group of "Ontario investors" want to build a 5.6-kilometre road course on land bounded by Bossert Road, Sodom Road and the QEW that could be available for IRL racing.
IRL stands for Indy Racing League, an American-based open-wheel racing series, which includes the popular Indianapolis 500.
Thibert said there is another proposal for a racetrack inside the Fort Erie boundary, but would not share details of the plan.
He said the provincial government is being asked to support the Bayt Al Mal project by paying for some of the off-site upgrades.
Both Thibert and Martin pushed the case with Ontario Minister of International Trade and Investment Sandra Pupatello while the three were in Dubai. Pupatello was then the province's minister of economic development and trade.
"It's no surprise to the province that ... as the Bayt Al Mal group verifies they have the land, they have the zoning, they have the servicing capability, they have the revenue and they have the expertise to put this together, that we would be championing their efforts to convince the province about the scope and value of the project and that the province do go forth and do the off site public works," said Thibert.
"(The province has) the option of enforcing a policy where developers pay for development. But because this is going to be so significant to the region's economy and to Ontario's economy, and to our international marketing, perhaps it's best for Ontario to move it along and make that commitment.
"This is the first track of the 21st century and I think it's going to be a real asset to the community."
When asked if 2011 is a realistic timeline for such a massive project to be up and running, Martin said: "Yeah, as long as we get the approvals going.
"(Bayt Al Mal has) been going along their path to make this thing work, (and) we at the town have done what we can to support them.
The mayor continued: "Their applications are in. We are working with the region ... to do what we can to ensure the fact that they’re applications are going through the process as quickly as we possibly can within the planning regulations that are there."
