Exclusive: A Private Equity Firm is About to Acquire Willow Springs Raceway.

      Willow Springs Raceway

      A private equity firm named CrossHarbor Capital Partners is in the process of acquiring the renowned Willow Springs Raceway located in Rosamond, California. A representative for the firm confirmed to The Drive that while the transaction is not yet completed, it is currently “pending.”

      “Although CrossHarbor Capital cannot disclose details regarding acquisitions until they are finalized, we can confirm that a deal is in the works. The team is eager to uphold the legacy and enthusiast access to one of America's most significant racing venues while also preparing the property for future growth and success. Additional information will be shared soon,” stated the spokesperson provided to The Drive.

      The Drive had received a tip suggesting that CrossHarbor was involved in negotiations to purchase the track, which the company corroborated upon our inquiry. As indicated on its website, the Boston-based firm “manages a range of fund strategies investing across the risk/return spectrum on behalf of a diverse and esteemed group of endowments, foundations, public and corporate pension plans, financial institutions, family offices, and sovereign entities.”

      Willow Springs Raceway

      It's premature to make assumptions about the firm's plans for the cherished racetrack, which has been in operation since 1953; however, the carefully crafted statement instills hope that preserving its legacy and ensuring access for fans will remain a priority. It is reasonable to anticipate that further details will emerge once the acquisition is completed.

      Willow Springs Raceway was put up for sale in June of last year, after 62 years managed by Bill Huth and his family. Huth passed away in 2015, and his family continued to run the track in his traditional style: inexpensive, straightforward, and seemingly stuck in time, often operating against financial logic. The legendary track took its many supporters back to an era when American road racing produced iconic drivers who challenged the best in Europe; a time when figures like Ken Miles were regulars at Willow.

      The asking price was never disclosed, but the listing encompassed all 600 acres of the venue, which included its seven separate tracks, cinderblock office and garage buildings, maintenance equipment, and even the snack bar famous for its hot dogs and fried fish sandwiches. Most parking areas were dirt, and the venue had only a few spectator zones, though some, like the balcony on Big Willow, offered excellent views. Considering its size, terrain, and incredibly low fees for track days and club racing, it’s remarkable that this facility exists just 90 minutes from Los Angeles.

      This peculiarity likely contributed to the eventual sale of the track. Willow Springs had affordable rental rates. Despite being featured in blockbuster films like Ford vs. Ferrari and frequently booked by racing clubs, media outlets, and car manufacturers for video shoots, photo sessions, or media drives, prices remained low. Renting Big Willow for a full day costs less than $5,000, a bargain compared to most other similar tracks nationwide.

      Willow Springs Raceway

      What changes might occur once CrossHarbor Capital Partners takes control? It's too early to tell, and this is purely speculative, but raising prices will likely be a priority. Even if they plan to maintain the facility's current state, operating costs have increased, staffing is often lacking, and many aspects of the venue could benefit from modernization. Will the new owners choose to keep all seven tracks open daily or just on weekends? Will they sustain all the tracks, or phase out the less popular ones? While Big Willow and Streets are likely safe due to their iconic status, the fate of the others remains uncertain.

      Finally, could Willow Springs Raceway evolve into a type of Thermal 2.0? You know, with multi-million-dollar condos, elaborate garages, a country club, spa, pool, green spaces, and perhaps even a luxury hotel due to the scarcity of nearby accommodations. The original listing suggested many of these ideas to prospective buyers, so it wouldn't be surprising to see some of them realized. If CrossHarbor aims to keep the doors open for another 70-plus years, it will need to devise smart and sustainable methods for generating a solid income.

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