Chandler racing school gets another month to pay $245K in back rent

PHOENIX — A Phoenix-area racing school that was on the road to closure has earned a new deadline to pay back nearly $250,000 to landlords, according to reports.

Bondurant School of High Performance Driving in Chandler and Sun Valley Marina Development agreed Thursday to 30 more days to settle up the back rent, ClassicCars Journal reported Thursday.

Owners were prepared to take over the facility Friday, based on the previous agreement.

The school was $245,402 behind in payments to the Gila River Indian Community economic development group but paid $61,350, a month of rent, on Wednesday, the auto news site reported.

Court records filed a week ago showed that Sun Valley Marina was willing to approve a financing plan the school, near Interstate 10 and Wild Horse Pass, was working on.

Bondurant had filed for bankruptcy protection in October and closed briefly in November.

The East Valley Tribune reported that court-appointed restructuring officer Tim Shaffer said last month “numerous parties and groups” had expressed interest in helping with a special loan for the school.

Landlords objected to the special loan because they would not have been paid in full and the lender would take priority in repayment.

The school opened in Southern California in 1968. Bob Bondurant built Firebird Raceway in the East Valley and relocated in 1990.

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