Corvette Museum to Build Track!

[rjcamaro]

Myself and my corvette club have been supporting the NCM for years and hold our event there every year for the last 10 years or so. We also bought a chunk of land for the new track, great idea! Can't wait until it's done.

[Camaro_Corvette]

Originally Posted by DGthe3

GM should chip in a few bucks, then offer an official 'test track' time with each and every ZR1 sold. How cool would that be?

Do they still give driving lessons for ZR1 owners? That would be kinda cool if they could build it, and then drive it across the street to start racing it

[Apex Motorsports]

Originally Posted by Blackend SS

Future C5 fest location anyone ?

[lil_chef]

i CAN NOT WAIT if/when the track opens. while my dad and i visited the museum back in December we asked when the track would be ready and completed. They said they are currently in the stage of acquiring "donations" along the lines of 100k.

if im not mistaken this would essentially make you part owner of the track, and i think you could use it for some personal track use? im not 100% sure about that though.

[wer2foxs]

I love the idea of holding some C5 function there. The museum is awesome and adding a motrosports complex, sweet! Lots to do and hotels as well. Not a bad drive from Indy either.

[a_Username]

Originally Posted by lil_chef

i CAN NOT WAIT if/when the track opens. while my dad and i visited the museum back in December we asked when the track would be ready and completed. They said they are currently in the stage of acquiring "donations" along the lines of 100k.

if im not mistaken this would essentially make you part owner of the track, and i think you could use it for some personal track use? im not 100% sure about that though.

Donations aren't ownership lol. People don't own charities!

[Gotadime]

Originally Posted by Blackend SS

Future C5 fest location anyone ?

+1 That's an awesome idea.

[guiLT]

Cool!

[garfin]

Originally Posted by DGthe3

GM should chip in a few bucks, then offer an official 'test track' time with each and every ZR1 sold. How cool would that be?

GM already does this...
Anyone purchasing a new ZR1 is entitled to participate in a free 2 day high performance driving school.
http://www.corvetteblog.com/archives...-purchase.html

As well, ZR1 owners can register for further instruction at the Ron Fellows Performance Driving school at Spring Mountain Motorsports Park in Pahrump Nevada.
http://www.springmountainmotorsports...iving-schools/

This is not included in the purchase price of the car...

Best regardSS,

Elie

[carsismeZ06]

It looks like the Circuit de la Sarthe. That straight looks magnificent, but I wish there were more twisties.

[lil_chef]

Originally Posted by a_Username

Donations aren't ownership lol. People don't own charities!

thats why donations are in quotes. its more like an investment. if i had the money i would do it in a heartbeat. my dad on the other hand doesn't think its worth it.

[2000v6]

Originally Posted by lil_chef

thats why donations are in quotes. its more like an investment. if i had the money i would do it in a heartbeat. my dad on the other hand doesn't think its worth it.

Doesn't matter it's not an investment, it's basically a donation. It's as if you were making a donation to a charity, local church, food bank, museum. You can write it off (I believe, but I'm not 100% sure so don't quote me on it) and that's it.

If the museum was a corporation then it's a different story. In that case you can say since I'm making an investment I will buy out some of your shares. So essentially you are buying up shares, and depending on certain things such as how much the company is worth, how much potential for growth exists, etc. you can have the choice of buying as many shares as you want. When you buy the shares you become a co-owner and will never be forced out of ownership unless you sell your portion of the corporation as in your shares. Since at that point you are a co-owner you can have unparalleled access to such things as the track, etc. Unfortunately, the museum is probably not set up as a corporation

[DGthe3]

Originally Posted by 2000v6

Doesn't matter it's not an investment, it's basically a donation. It's as if you were making a donation to a charity, local church, food bank, museum. You can write it off (I believe, but I'm not 100% sure so don't quote me on it) and that's it.

If the museum was a corporation then it's a different story. In that case you can say since I'm making an investment I will buy out some of your shares. So essentially you are buying up shares, and depending on certain things such as how much the company is worth, how much potential for growth exists, etc. you can have the choice of buying as many shares as you want. When you buy the shares you become a co-owner and will never be forced out of ownership unless you sell your portion of the corporation as in your shares. Since at that point you are a co-owner you can have unparalleled access to such things as the track, etc. Unfortunately, the museum is probably not set up as a corporation

Donating to the National Corvette Museum is like donating to a museum? I don't believe you!

Anyway, lots of non-profit groups, like the ones you listed off, are setup like a corp. I used to know the reasons for it, but they escape me now. I expect NCM is a corporation well but that doesn't mean they are a publicly traded company you can buy shares from.

[lil_chef]

like i said...... im not 100% sure. i dont know how it works, im going back at the end of july for another tour of the factory/museum and i will see if they have any more information than they did back in the winter