Utah forces Chinese company to sell motorsports park in Tooele County

[tyroneweaver]

Utah forces Chinese company to sell motorsports park in Tooele County

A Chinese company has been forced to sell a Tooele County motorsports park, state leaders announced Thursday.

www.ksl.com

SALT LAKE CITY — A Chinese company has been forced to sell a Tooele County motorsports park, Utah leaders announced Thursday. It's the first forced divestiture under a state law meant to block Chinese ownership of Utah real estate.

A law passed in 2024 prevents companies owned or controlled by the governments of China, Iran, North Korea and Russia from owning land in Utah. The law also applies to restricted foreign entities that own controlling stakes in a company.

 

[evenflow1969]

Utah forces Chinese company to sell motorsports park in Tooele County

A Chinese company has been forced to sell a Tooele County motorsports park, state leaders announced Thursday.

www.ksl.com

SALT LAKE CITY — A Chinese company has been forced to sell a Tooele County motorsports park, Utah leaders announced Thursday. It's the first forced divestiture under a state law meant to block Chinese ownership of Utah real estate.

A law passed in 2024 prevents companies owned or controlled by the governments of China, Iran, North Korea and Russia from owning land in Utah. The law also applies to restricted foreign entities that own controlling stakes in a company.

We have other States that have passed similar laws. They work at first but then they just get straw purchasers to get around it. It's a big problem. Not an easy one to solve. Good for them. At least it makes it more difficult for China. The problem is far from solved though.

 

[Kruska]

Utah forces Chinese company to sell motorsports park in Tooele County

A Chinese company has been forced to sell a Tooele County motorsports park, state leaders announced Thursday.

www.ksl.com

SALT LAKE CITY — A Chinese company has been forced to sell a Tooele County motorsports park, Utah leaders announced Thursday. It's the first forced divestiture under a state law meant to block Chinese ownership of Utah real estate.

A law passed in 2024 prevents companies owned or controlled by the governments of China, Iran, North Korea and Russia from owning land in Utah. The law also applies to restricted foreign entities that own controlling stakes in a company.

Okay, so if the USA can backspin onto previous laws - so can China. That reminds me Disney Park Shanghai (absolute prime property) is just 2 km away from a PLAN naval yard and a PLA airstrip. I am sure there are a lot of "eager" Chinese companies that want to place their bid onto a forcefully revoked land/lease option.