Hope for you guys its false.
However when I lived in NY we had a very popular track close. 2 big factors 3 seasons of bad weather on race days during a terrible economic period during the Carter years. Owner simply ran out of money and was forced to sell it.(bankrupt) Guy who bought it was into dirt track stuff and tore out part of the drag track and the entire paved oval on the property. Also used some of the property for his construction company. Pretty sad. The dirt track is still in operation but facing noise/dust complaints as the area nearby grows. If that doesnt drive him out taxes/insurance could.
The race track business can be very tough to survive and prosper.
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