New owners take over Chandler’s Bondurant racing school
PHOENIX – New owners with strong ties to the Bondurant racing school in Chandler said they planned to continue the legacy Thursday, after announcing the purchase.
ClassicCars Journal reported that members of Stig Investments, Inc., made the best offer for Chandler’s Bob Bondurant School of High Performance, under bankruptcy code.
“We plan to establish the next generation of race car learning and entertainment as popularity in car racing and interest in consumer destination experiences continues to grow,” CEO Bruce Belser said in a statement.
Belser said he and others in ownership were graduates of the school, which opened just south of Phoenix, in 1990.
The famed school ran into hard times financially in the past several months.
Bondurant owed nearly a quarter-million dollars in back rent in February.
The school was granted a month extension to make the payment after putting up about $61,000 towards the debt to Sun Valley Marina Development. The company is the economic development branch of the Gila River Indian Community.
Belser said his group would “infuse significant capital into the business to enhance the guest experience” at the 100-acre facility.
Head instructor Mike McGovern, who has been with the company for 36 years, assistant instructor Danny Bullock, a 22-year employee, and the other instructors will stay on.
Belser’s statement added, “We have a profound respect for Bob and what he has built.”