New Equity Membership Allows Partial Ownership
Posted April 23, 2009, by Maria Jannace
For Immediate Release
From The Club at Lime Rock Park
Contact: Maria Jannace
Tel: 860.435.5000 x 304
Email: maria@limerock.com
New Equity Membership Allows Partial Ownership To The Club at Lime Rock Park
LAKEVILLE, CT (21 April 2009) – The Club at Lime Rock Park is a unique private club for drivers. The Club offers an extraordinary amount of track time, first class coaching and mentoring, and an unparalleled social environment at a historic, world-famous racing circuit in Litchfield County, CT. As of the 2009 season,
75 Equity Equivalent Memberships are available on a first-come, first-served basis with the most significant benefit being partial ownership of The Club at Lime Rock Park, which in turn has ownership of the track.
“It is a unique and interesting investment,” states Skip Barber, President of Lime Rock Park. “During the past year we got a better understanding of the deep commitment our Members and potential members have to the preservation of Lime Rock Park. Many have come to the conclusion that the best way to do that is through joining The Club. And, if a Member wants to, why not let them have a stronger ownership component. After all, their involvement is a major reason why Lime Rock will continue to exist.”
Here is how it works: When you buy a Full Membership at $100,000 plus CT Dues Tax, a portion of your initial fee ($25,000) is actually buying ownership in The Club at Lime Rock Park, which has ownership in the track. Note: No individual owns any of Lime Rock Park's property. Lime Rock Park, LLC owns title to the property.
Lime Rock Associates, Inc., which is owned by Skip Barber, owns the majority share and The Club at Lime Rock Park owns a minority share.
The value of the Membership interest in The Club is determined by reference to the value of the property on a consistent basis, by an independent appraiser, and offers the possibility of you selling your equity while retaining or selling your Club membership.
“This is a great opportunity for drivers to be invested in a pastime and club that they love anyway,” mentions Simon Kirkby, Director of The Club at Lime Rock Park. “During our first full year of operation Members have engendered an exceptional camaraderie while making The Club their own. They have made it into ‘a drivers club,’ while taking full advantage of the complimentary preeminent coaching that is provided in either their own car or one of The Club provided track cars.”
Today’s high-end sports cars are so technically advanced, so fast, there is simply no way to explore their or your limits on the street. As an owner of such a car, The Club at Lime Rock Park offers Members the ability to drive it as it’s meant to be driven; on one of the fastest, finest, and best-known race tracks in the world.
The Club at Lime Rock Park is located in the Northwest Corner of Litchfield County, Connecticut, and is convenient to the New York City/Boston corridor.
Please contact Maria Jannace at maria@limerock.com for more information on The Club at Lime Rock Park, Lime Rock Park and the Litchfield County area.
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