Thursday March 17, 2011

Exclusive: Speedway May be Sold on Wednesday

Report: John Torrese to be new owner of speedway
By Lou Sorendo

    Suspense is building regarding the possible sale of the Oswego Speedway.

    Contrary to a published report saying a deal was expected to take place by Wednesday, speedway co-owner Steve Gioia Jr. said today he is not prepared to share any information regarding a transaction.

    “There has been no transaction made as of right now. You are hearing rumors,” Gioia said.

    However, according to the Tuesday edition of Area Auto Racing News, John Torrese will become the owner of the speedway on Wednesday.

    Gioia told the publication that “all the red tape issues have been solved and the final papers are in the lawyer’s hands.”

    Gioia told the newspaper that he wasn’t sure whether he would be working with Torrese or not, but he would definitely be staying involved in the sport.

    “He’s (Gioia) looking to returning to racing with his son,” Area Auto Racing News reported.

    Gioia was quoted as saying Torrese “has big improvement plans for the speedway and the money behind him to get things done that I was not able to accomplish.”

    Gioia told the publication that Torrese is a “huge farmer” in the area and plans to spend considerable time at the track once planting season has been completed.

    Gioia and Pat Furlong, Sr. took over the ownership reins from original owners Harry, George, and William Caruso in April 2004.

    Gioia is a former track and Classic champion at the speedway.

    “My desire and interest has always been racing at Oswego Speedway and keeping the speedway open for the benefit of the area, fans and racers,” Gioia said in a recent interview.

Oswego County Business Magazine
Issue 164

Issue 164
October/November 2019

Cover Story

  • Cruse Control
  • Jeff Cruse takes over as top leader for Novelis’ Oswego Works

Profiles

Linda Eagan

On The Job

What type of marketing do you find most effective?

Success Stories

The Child Advocacy Center of Oswego County

My Turn

Why President Trump Won’t Admit Mistakes

Newsmakers

News Briefs on Local Businesses & Business People

Economic Trends

Oswego County IDA Recapitalizes Popular Loan Program

Last Page

Rodmon King