OCALA, Fla. – Bubba Raceway Park, owned by radio personality Bubba Clem, is facing foreclosure according to a report by the Ocala Star-Banner.
A suit recently filed in Florida’s Marion County indicates that Clem and Bubba Raceway Park LLC are defendants in a suit brought by Valley National Bank in Wayne, N.J.
In the suit, the bank is claiming more than $94,000 in past due principal, interest and unpaid property taxes dating back to 2017.
Clem and Kenneth Snyder teamed to purchase the three-eighths-mile dirt track, which was previously known as Ocala Speedway, in 2011.
County records acquired by the Ocala Star-Banner show several liens in place on the property by the Florida Department of Revenue for failing to pay thousands of dollars in sales tax in 2013.
Bubba Raceway Park plays host to weekly racing as well as several major events every February that include the USAC AMSOIL National Sprint Car Series, the USAC NOS Energy Drink National Midget Championship, Ollie’s Bargain Outlet All Star Circuit of Champions, United Sprint Car Series and Lucas Oil Late Model Dirt Series.
Ocala Speedway opened as a quarter-mile track in 1952 and was extended to three-eighths-mile in 1964. The track was paved in 1996, but returned to a dirt surface in 2008.