The executive team at the Bob Bondurant School of High Performance Driving secured a 30-day extension from the U.S. Bankruptcy Court in the District of Arizona to continue its negotiations with prospective purchasers interested in continuing the school’s operations.
“We are making steady progress towards the sale of the School, a key benchmark towards finalizing the School’s reorganization plan,” said Tim Shaffer, chief restructuring officer. “We’re negotiating with several highly qualified investors, and the process with each one has been very positive. All of the investors have the means, expertise, and business acumen to continue running the school at full throttle. They also see ownership of the School as an opportunity to ensure the vitality of Bob Bondurant’s legacy of inspiring and training current and future generations of drivers.”
Since filing a voluntary Chapter 11 petition in October, many of the school’s sponsors, students, and key employees have stayed with and supported the school. The school has been conducting a full schedule of classes since December, and it also hosted the Mazda Road to Indy Shoot-Out.
On Feb. 14, the school celebrated its 51st anniversary, making it one of the longest continuously running racing instruction schools in North America.
“We remain very positive about the direction we’re headed with the current pool of motivated potential purchasers,” Shaffer said. “We look forward to working with them over the coming weeks to ensure the School’s long-term success.”