Efforts for a new ownership group to take over Badlands Motor Speedway are moving forward.

Current owner Chuck Brennan had set a sale deadline date for the end of the year. Now, he says he is giving a local family an extension to finalize plans to buy the racetrack.

In a statement on its website, Badlands Motor Speedway Ownership says it has reached an arrangement with racing operator and promoter Steve Rubin.

Rubin operated Huset’s Speedway for more than 28 years before selling the track to Brennan.

Plans call for racing operations to resume this spring under the legendary Huset’s Speedway Banner with the season opener being Memorial Day Weekend. In addition to a full racing schedule, fans can expect to see concerts and special events.

Rubin has requested 30-60 days to arrange the financing and investor group. According to a news release on Badlands website, both sides agree that if the fundraising efforts fall through, the facility will be demolished.