Bruton Smith to buy Kentucky Speedway-UPDATE
Quote selected text Published May 22nd, 2008 in NASCAR News
UPDATE:
The Kentucky Speedway in Sparta is being sold to one of professional auto racing’s biggest operators. Speedway Motorsports Inc. of Charlotte, N.C., and its founder and chairman Bruton Smith will announce at 3 p.m. that it is purchasing the speedway in a deal that is expected to close in October.
Terms will not be announced but Kentucky Speedway Chairman and developer Jerry Carroll confirmed this morning that Smith plans to invest $50 million in the speedway and bring a coveted NASCAR Sprint Cup Series race to the Gallatin County track as early as 2009.
“He wouldn’t be buying the track if he wasn’t going to bring a Sprint Cut race here,” said Carroll as he rode to the airport to take a charter flight to North Carolina for the announcement. Speculation is that Smith will move a Sprint Cup race from tracks he operates in Atlanta or New Hampshire. Track employees were informed of the sale during a 30-minute staff meeting held this morning at the track’s business offices in Fort Mitchell. The message from Carroll, track president Mark Simendinger and executive vice president and General Manager Mark Cassis was to continue operating as usual. The speedway employs about 30 people.
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The future of Kentucky Speedway is expected to be addressed during a “major announcement” scheduled for Thursday afternoon in Concord, N.C. Sources close to the speedway confirmed to the Enquirer tonight [May 21st] that Kentucky Speedway officials have been in talks with Speedway Motorsports Inc. chairman and chief executive officer O. Bruton Smith about selling or partnering with the Sparta track owned by Jerry Carroll and his partners.
A spokesman with Lowe’s Motor Speedway, one of the seven tracks owned by SMI that hosts NASCAR Sprint Cup Series races, indicated only that Thursday’s announcement would be of interest. The exact nature of the announcement is not immediately known, but it could include selling all or part of the speedway or partnering with Smith to bring a Sprint Cup race to the 1.5-mile track. Smith will make the announcement at 3pm/et Thursday in the media center at Lowe’s Motor Speedway. Carroll was unavailable for comment Wednesday.
News of a potential deal with SMI comes at the same time lawyers representing Kentucky Speedway continue to fight in 6th U.S. Circuit Court of Appeals the early January decision by a U.S. District Court judge to dismiss the track’s antitrust lawsuit against NASCAR and International Speedway Corp.
- Bruton Smith intends to bring Cup date to Kentucky by 2010
- NASCAR: No Cup date request yet for Kentucky but…?
- Smith now 100% owner of North Wilkesboro
- SMI may back out of Kentucky Speedway purchase
- Bruton Smith thinks Dale Jr should go to RCR
They better not take one of my ATL dates! Why not take a date from somewhere like Cali or even New Hampshire.
Jeff wrote:
Because SMI does not own Cali.
Do not touch new hampshire
That goes double for me ganjadude - don’t touch New Hampshire.
Chances are Kentucky Speedway will not get a Cup Series date period, it’s only 158 miles from Indianapolis Motor speedway and its not in a good market according to NASCAR, just look at whats around the speedway in that part of the country.
Racedriven wrote:
We’re hearing New Hampshire will get the axe (one of their dates). See the story just posted.
Fisha695 wrote:
Doh! In my excitement to dump Cali completely, I completely neglected to think about that. Maybe Bruton should buy that place and turn it into a landfill or something. They could give a date back to the Rock and give one to Kentucky
The word is Kentucky will host a race as early as 2009. Humpy Wheeler is Pissed off Bruton wants to move the All Star race to Vegas next season and i think New Hampshire will lose a race to Kentucky
Racedriven wrote:
? what does indy being close have to do with anything,and you’re wrong about the market NASCAR/ISC wanted to buy the track but they wouldnt sell,that track is within 2 hours of 5 major cities I mean the nationwide race sells out there every year the market must not be that bad.