The Promoter (Carl) is retiring at the end of this year. He still has a lease on the property (and first right of refusal on purchase of the land) and owns the track equipment.
I think that he is looking at another promoter to buy him out and assume the lease. Word is that it will happen, but the details are kept under wraps. The scary part is that the current lease is not very long and any new promoter would have to get an extension from the land owner before making an investment in the equipment and goodwill.
It still looks good that it will remain a track for the short term, until there is another use for the property.