Georgetown Speedway sold to local investment group, will 'maintain a legacy of auto racing'

Shannon Marvel McNaught, Delaware News Journal
·2 min read

Georgetown Speedway has been purchased by an investment group including Brett Deyo, the track’s manager and promoter for the past five years.

“The agreement solidifies the future of the Sussex County property for auto racing,” Deyo said in a news release Tuesday night.

Until now, Deyo, of BD Motorsports Media, had been operating the track under a lease agreement with owner Seacoast Investors. That limited the improvements he could make at the track, he said.

“The purchase will allow us to seriously evaluate the needs of the facility and make upgrades for the future,” Deyo said.

He will continue to manage the track.

Brett Deyo has been managing and promoting the historic Georgetown Speedway for five years. Now, he's also a co-owner.
Brett Deyo has been managing and promoting the historic Georgetown Speedway for five years. Now, he's also a co-owner.

The four-parcel property north of Georgetown, surrounded on three sides by Route 113, Speedway Road and Bethesda Road, changed hands Dec. 30, 2021, according to Sussex County records. Seacoast Investments sold the land to Parkada Investments for $1.55 million.

Parkada Investments’ registered agent is James Parker of Millsboro, owner of Jim Parker Builders. When approached, Ken Adams, owner of several Georgetown businesses including Stockley Materials and Melvin L. Joseph Construction Company, also confirmed his involvement in the speedway purchase.

Adams is the grandson of Melvin Joseph, who first opened the track in 1950. Neither he nor Parker immediately returned calls for comment.

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Seacoast Investments doesn’t have an individual registered agent. Deyo said previously the group is comprised of six people that live out of state. They planned to develop the race track property, Deyo said, but that never came to fruition.

Georgetown Speedway’s 2022 season will begin March 10 with Melvin L. Joseph Memorial Weekend. The headlining race will offer the largest purse in Delaware dirt-track history, according to Deyo. Winnings range from $25,000 for first place to $1,000 for 16th.

View the season schedule here.

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This article originally appeared on Delaware News Journal: Georgetown Speedway sold to local investment group