“I’m not a bad person,” Mahoning Valley Speedway owner Jack Carlino said of the track hitting the market. “I am offering ways for Mahoning Valley Speedway to continue to stay in business. If I was a bad person, I would just pay my bills and wait for Home Depot to come around.”
Carlino listed Mahoning Valley Speedway for $3 million. It includes the ¼-mile paved oval, 30 acres of land, and a farmers market building.
“Those are not big numbers for what is being offered,” said Carlino. “The property makes money. The farmers market building rents alone can bring in $15,000 a month. With the track, profits can be $25,000 a month or more.”
Carlino understands business. He owns three thriving restaurants — The RiverWalk in Parryville, The Pizza Joint in Allentown, and The Pizza Joint Bethlehem. Carlino stresses he wants to see the track continue on and is willing to work with whoever wants to buy or lease it.
You can purchase the property for $700,000 down, and Carlino will finance the balance. You can also lease the entire property for five years, with an option to buy it, for $400,000 down and $10,000 per month. When the five years is up, Carlino will finance the property’s $2.5 million balance due with a 20-year mortgage.
“Someone with a lot of energy will do great,” Carlino said. “I’m here to guide them if they want me to. I still would like to run the kitchen. I may even make a deal to pay a percentage of food sales back to the lessee.”
Those who want to see Mahoning Valley Speedway continue as a racetrack and have a 2026 season, the time to speaking up is now, according to Carlino.
“Me personally, I’m done after this season,” said Carlino. “However, the track doesn’t have to be done.”
Mike Adaskaveg has written hundreds of stories since the website’s inception. This year marks his 54th year of covering auto racing. Adaskaveg got his start working for track photographer Lloyd Burnham at Connecticut’s Stafford Motor Speedway in 1970. Since then, he’s been a columnist, writer, and photographer, in racing and in mainstream media, for several outlets, including the Journal Inquirer, Boston Herald, Stock Car Racing, and Speedway Illustrated. Among Adaskaveg’s many awards are the 1992 Eastern Motorsport Press Association (EMPA) Ace Lane Photographer of the Year and the 2019 National Motorsports Press Association (NMPA) George Cunningham Writer of the Year.
