Singer Vehicle Design, the firm behind its exceptionally remarkable " reimagined versions of iconic Porsche 911s, is defending the interests of California car enthusiasts as the newly acquired stakeholder Willow Springs International Raceway alongside private equity The firm CrossHarbor Capital Partners has joined forces with another company. They unveiled their collaboration today and have established an objective to “maintain the site’s storied past while committing substantial funds to transform it into a top-tier destination for car lovers.”
As the owner with an enthusiastic interest in Willow Springs Raceway, The singer intends to establish a private members' club that will extend memberships to everyone, not solely Singer Owners, who wish to participate in track days and other racing events. To clear up any speculations about the racetrack becoming victim to The usual approach in private equity involves draining company resources and subsequently pushing those businesses into bankruptcy after acquiring them. The press release emphasizes that neither Singer nor the private equity firm have plans to sell Willow Springs. However, the new proprietors will implement numerous enhancements to America’s oldest continuous racetrack.
Read more: Everrati’s electric Porsche 911 RSR has me embracing the future with open arms.
Enhancements Are On The Way, However They Come With A Price
CrossHarbor states that they have already initiated a comprehensive assessment of the racetrack and its amenities. The initial modifications at Willow Springs will focus on safety enhancements such as incorporating additional asphalt and barriers, along with expanding runoff zones. Additional alterations encompass upgrades to dining options and fine-tuning both the track conditions and overall driving experience. Let’s hope this does not become overly pretentious akin to what we see at places like the Thermal Club in Palm Springs; however, surely any adjustments are preferable to closing down America's longest-running permanent racing circuit. As reported by our colleagues at Motor1,
Currently, Willow Springs is a popular choice for those seeking an affordable racing experience in Southern California. On average, participating in a track day at either Big Willow or Streets of Willow costs less than $200, making it considerably more economical compared to any nearby tracks within a three-hour drive.
When questioned regarding the updated pricing tier aimed at typical enthusiasts, [Sam Byrne, Co-founder and Managing Partner of CrossHarbor] clarified:
At present, we're leaning towards combining three different sectors. There’s significant dedication planned for the public sector. Fundamentally, our aim here is to build up enthusiasm around Southern California's automotive scene. Initially, this will focus on providing open access.
Prominent Consultants Might Aid in Maintaining Concentration
CrossHarbor has brought aboard Alex Wurz from Le Mans-winning and ex-Formula 1 driving background through his firm, Wurz Design, to serve as the track’s safety czar. According to Mazen Fawaz, who holds the title of Chief Strategy Officer for Singer, their main task involves envisioning the next phase of the racetrack’s layout and function. The objective is to preserve the venue's distinctive traits while enhancing usability factors such as better facilities, additional garage spaces, and proper shading—a necessity considering its setting within the Mojave Desert. Fawaz told Motor1 ,
He mentions, 'We apply this concept to our vehicles, yet reinvention fits perfectly as well,' adding, 'Our aim is to organize yearly gatherings akin to those at Goodwood, providing a platform where automotive enthusiasts can truly express their passion.'
Ultimately, the architectural firm Hart Howerton, renowned for designing opulent hotels, resorts, and residences, has been tasked with "incorporating additional amenities to improve Willow Springs' visitor and membership enjoyment." Although Willow Springs holds a special place among automobile aficionados, it presently lacks many luxurious features.
Byrne expressed his desire to possibly draw in automotive manufacturers for performance driving programs and potential testing facilities, which would thrive with enhanced onsite conveniences. For visitors unfamiliar with the location, the track is situated far away in the heart of the Mojave desert, making it particularly advantageous to have additional services close at hand.
Dearest Private Equity, Please Do Not Spoil This As Well
This piece of news is uplifting. The future prospects for Willow Springs Raceway appear considerably brighter compared to our initial concerns upon discovering that it had been acquired by a notorious private equity firm. At present, Singer and CrossHarbor seem committed to safeguarding the heritage of Willow Springs Raceway. For now, our primary worries have subsided, partly due to Byrne’s statement to Motor1.
This investment won’t affect our private equity operations; everything here is funded by long-term capital. It’s a significant personal interest for me, and we’re bringing together individuals who share similar passions—true devotees of motor sports.
We’ve all experienced the damaging tactics of private equity firms in the past—I can’t let go of how they pushed my favorite Joann Fabrics into bankruptcy—so we’re really counting on Byrne’s statements being accurate. The outlook for Willow Springs Raceway seems promising moving forward. However, it mustn’t turn out to be unaffordably costly.
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