Utah Orders Sale of Utah Motorsports Park to PV3
Utah has completed what officials describe as the first forced real estate divestiture under the state’s foreign ownership law, requiring a Chinese owned company to sell Burt Brothers Motorpark in Tooele County. The buyer, PV3 Enterprises, is a Utah based private investment group that acquired the property through UMC Holdings LLC and has already signaled plans to stabilize and reinvest in the facility.
The sale follows a state investigation that determined Mitime Utah Investment LLC was tied to a restricted foreign entity, putting the ownership in violation of a 2024 law that blocks companies connected to governments such as China, Iran, North Korea, and Russia from owning land in Utah. Officials pointed to surveillance concerns due to the track’s proximity to the Tooele Army Depot, underscoring why lawmakers say the policy is intended to protect strategically located real estate.
Public records show the 512 acre property in Grantsville transferred on January 22. While financial terms were not publicly disclosed, the size of the site and its status as one of North America’s more established racing venues make it a notable transaction within the specialty real estate sector. The park originally opened in 2006 as Miller Motorsports Park and has long been considered an important piece of Utah’s performance and racing landscape.
PV3 has outlined a measured approach to ownership. The firm says its priority is to restore the facility, reintroduce it to the public, and return it to regular use while serving racers, fans, partners, and the surrounding community. Rather than positioning the acquisition as a reinvention, the group has emphasized continuity, thoughtful investment, and long term stewardship.
That approach suggests operations should remain steady in the near term. Tracks of this scale rely on consistent scheduling, driving programs, and event partnerships, so maintaining activity is typically one of the first objectives following an ownership change. Over time, targeted capital improvements or expanded programming could help the venue strengthen utilization and regional draw, particularly if ownership focuses on fundamentals before pursuing larger upgrades.
PV3 also brings experience from performance driven businesses. After acquiring ENVE Composites in 2024, the company expanded fabrication, testing, and engineering capabilities that increasingly moved into real world racing applications, eventually leading to the launch of ENVE Motorsports programs. Leadership has framed motorsports as a platform for innovation across materials, safety systems, and manufacturing, positioning the Utah track as a potential proving ground for continued development.
Beyond the property itself, the forced sale may influence how foreign capital approaches motorsports facilities in the United States. Large racing venues require significant land and patient investment, characteristics that have historically attracted a mix of domestic and international buyers. With more states examining ownership rules near military or infrastructure assets, overseas investors may encounter greater regulatory review, while domestic groups could face less competition for similar properties.
For operators and event partners, the immediate takeaway is stability rather than disruption. Early messaging points toward keeping the track active and relevant while evaluating future investments such as naming, programming, and facility enhancements.
The Utah transaction is primarily a regulatory enforcement with a new local owner stepping in to continue operations. While it does not necessarily signal a broad shift for motorsports venues, it highlights the growing importance of ownership structure in large scale racing properties and may modestly shape how both foreign and domestic investors pursue opportunities going forward.
