SPEEDWAY, Ind — As soon as news of the Mug-n-Bun's sale went up, current owner Jay Watson began to hear the community's outcry.
Though the property is now for sale with a $2.2 million price tag, the current owner of Mug-n-Bun reiterates this doesn’t necessarily mean the end for Speedway’s iconic restaurant.
"I'm 63. I'm ready to retire," Watson said. "I'm hoping to find a buyer that wants the Mug-n-Bun to continue. It's always been an icon of Speedway."
Watson said he is now working hard with his realtor to find a special type of buyer for the property – one who is willing to keep the restaurant in operation.
"I really want the Mug-n-Bun to succeed. I do not want to see it go away," Watson said.
Though the restaurant has been in operation for more than 60 years, it's passed through different owners before. That’s what happened in 1998 when Watson, then an electrician, was hand-selected by the previous owner of Mug-n-Bun to lead the famous drive-in.
Before Watson became the owner though, he was a customer. He remembers his first burger at Mug-n-Bun, and said he worked hard to live up to that standard throughout his career.
"When I first bought it, 20-24 years ago, we used to stay up until 11 o'clock at night. And we ran seven days a week - year round. I just can't do that anymore. You know, my old bones won't let me," Watson joked.
Such is the type of hardworking potential buyer Watson now seeks. He carried the torch for decades, but the recent loss of several close friends and family had him reconsider priorities.
Ultimately, Watson doesn't correlate the end of his time at Mug-n-Bun with the restaurant's end. He hopes the restaurant's long history in the community will bring the right potential buyer out of the woodwork.
"I really don't want someone to come in and buy just the property, and have the Mug-n-Bun go away. I really don't want that to happen. But, I also want to be able to retire and move on. So yeah, it's kind of a crossroads," Watson said.
The vintage drive-in is now listed for sale along West 10th Street, near North Lynhurst Drive.