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The Thelen family. Submitted image.[/caption]
Faith and opportunity led
Todd and
Elizabeth Thelen to sell
Slinger Speedway, a business they both love deeply, to another family that will lead the racetrack through its next stage of growth.
The Thelens took over the lease for Slinger Speedway in 2013, later purchasing the actual property in June 2021.
The
sale of the business to Kelsey and Travis Dassow closed last week.
The Dassow family purchased the Slinger Speedway real estate for $2.83 million, according to state records.
While people have always casually inquired about purchasing Slinger Speedway over the past 12 years, none of the offers were serious.
“It’s normal to have people come around kicking tires,” said Elizabeth Thelen.
Both Todd and Elizabeth had a pre-existing relationship with
Travis Dassow and his family. Through their business,
TD Graphics, the Dassows have been a supplier to Slinger Speedway.
"I used to race against him," said Todd Thelen. "I've known him for a long time. I've watched him grow. I've watched him mature, and we just started talking one day. I said someday, I want to sell the racetrack."
Dassow followed up with Todd about a month later with a serious offer, officially starting the sale of Slinger Speedway. The fact that Dassow had a deep knowledge of the racing industry already made him an ideal fit for the business, Todd explained.
"There's no business like weekly short track racing," said Todd. "There are so many variables that come at you every single day, and then on race day, and you only get 18 of them to generate all your revenue."
Todd has been a racing fan since he was a young boy. His family would visit Hales Corners Speedway, which sparked his interest in the sport. Elizabeth became a fan later in life, learning about racing through her relationship with Todd.
"I just turned 60, and the opportunity (to sell) was right," said Todd. "You can look back and see the opportunities you missed throughout your life. Timing is everything."
During their time as owners of Slinger Speedway, the Thelens have helped revive national interest in the track. One of the venue’s biggest events, the Slinger Nationals, dates back to the early 2000s. While the event “fizzled out” around that time, Todd said it had always been a goal to get the event back on the map.
Todd and Elizabeth have managed to do just that. Over the past two years, some of NASCAR’s biggest names, including Chase Elliott, have stopped to race at Slinger Speedway simply because they wanted to.
During each racing event, between 70 and 120 staff members keep things running smoothly. The Thelens easily worked 100-hour weeks during the summer, Slinger Speedway’s busiest time of year.
"It continues to amaze me the number of people working behind the scenes to operate a racing event," said Elizabeth. "Most people don't ever see that."
Running a racetrack is unlike running any other kind of business and it certainly has its own unique challenges. Despite Slinger Speedway currently thriving, the Dassow family will need to address long-term trends in the racing industry, including the rising costs for drivers and the constant need to find seasonal help for the venue.
Within the Super Late Model division, the cost for parts is rising far too quickly, which is pricing lower budget racing teams out of the sport. The price of buying a car to race has basically doubled since the late '90s, Todd explained. Now, racers are regularly spending upwards of $100,000 to compete.
“One of the things that I think of right away is controlling costs,” said Todd. "Engineers develop parts, release them and they cost way more money.”
Staffing, like in most industries, will also remain a challenge. The Thelens are hopeful that the history of Slinger Speedway, coupled with the company culture they’ve fostered over the years, will continue to attract employees.
As for what’s next for the Thelens, the couple is working to figure out their next entrepreneurial endeavor. Elizabeth works at the University of Wisconsin-Whitewater as executive director of the school’s Innovation Center, but she also hinted at having her own startup she could launch within the next year or two.
"We are faithful people. We believe things happen for reason, but you also have to drive the reason," said Elizabeth. "So many opportunities are popping all over the place."
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A 2017 aerial of the Slinger Speedway property. Credit: Eagleview/Washington County GIS[/caption]
