NASCAR Daily News Headlines * November 12, 2009

Staten Island Land Will Be Sold

ISC bought the property for $114 million in 2004. The agreement announced Thursday is for $80 million and is scheduled to close Feb. 25. KB Marine has the opportunity to receive a $5 million credit to the sales price if the closing date occurs on or before Dec. 31.

“We are very pleased to announce the execution of this agreement as it has been our intention to find a buyer interested in redeveloping this site to its highest and best use, which would be for port-related and logistic activities,” said Brian K. Wilson, ISC’s vice president of corporate development.

Before abandoning the project in 2006, ISC spent about $150 million, including $114 million for the land, $9 million for land improvements, $11 million for costs related to the development of the speedway and $16 million for capitalized interest and property taxes. ISC has spent about $25 million since then in upkeep (including addressing environmental concerns with the fill) and property taxes, ISC chief financial officer Dan Houser said.

Including the tax benefit, ISC will generate $110 to $115 million in incremental cash flow through the transaction, the company reported.(scenedaily.com)

Martin Named Person of the Year

This is the third time Martin has received a Person of the Year honor – but only the first that he has been the sole honoree. He joins a list of previous recipients that includes Jeff Burton, Kyle Petty, Tony Stewart and Rusty Wallace. -- Martin is the cover subject of the December 2009 issue of NASCAR Illustrated, which will be available on newsstands across the country the week of Nov. 24.(scenedaily.com)

FFR Test At Pikes Peak International Raceway

"We had another good test session at Pikes Peak," added Smith. "The last time we raced in Phoenix we also tested at Pikes Peak and it was a huge benefit. We're looking for similar results this weekend. We really want to close out the season on a positive note with solid results in Phoenix and at the season finale in Homestead (Nov. 22)."

Running a part-time 20-race Sprint Cup schedule in 2009, the Furniture Row team is gearing up to run a full 36-race slate in 2010.

"There's a lot of buzz at our Denver race shop right now," offered Smith. "Both the team roster and the shop size are expanding. We all have an upbeat feeling heading into next season. Running all 36 races is going to make us a better team. It's been fun and we're even going to have more fun."(furniturerowracing.com)

Almirola Files Lawsuit Against EGR

Almirola, who drove in seven Sprint Cup races this year for the team before his car was parked because of a lack of sponsorship, filed the complaint last Thursday. DEI had announced last year that Almirola would run a full season in 2009, but the organization later merged its Cup operation with Chip Ganassi Racing to form Earnhardt Ganassi Racing.

The complaint does not detail the circumstances surrounding the breach-of-contract claim and asks the court to refer the matter to arbitration.

Almirola had filed two notices of a claim last month, and he had until Thursday to file the actual complaint. He is dismissing his claim against Chip Ganassi Racing and EGR co-owner Teresa Earnhardt but proceeding in the one against EGR and DEI.

Almirola has 26 career Sprint Cup starts, with a career-best finish of eighth at Bristol in March 2008. He drove in 17 races in 2007 and 2008 as he shared the ride with Mark Martin in the No. 8 car at DEI. He has driven in 14 Camping World Truck Series races this year for Billy Ballew Motorsports with six top-five finishes.(scenedaily.com)