:  It's a big day for race fans in Cleveland where the new and improved Speedway reopens to the public.  

Back in July, North Georgia native Al Chapman purchased the 54-year-old track for nearly 900-thousand dollars.  

After a months long hiatus the first big race was be held Friday night.

Chapman say about 60 cars will be participating.  

He also says everything is "looking good" and has been updated.


The sale of the Cleveland Speedway is once again postponed.  Representatives of all involved were in bankruptcy court Thursday to approve the sale of the Speedway. 

Except the intended buyer decided to rescind the offer. 

The court issued a postponement until February 27th to determine whether the sale will go through or if the intended buyer can take back his offer.

We'll continue to update this story.