Monday, November 29, 2021

Speedway Motorsports buys NASCAR Dover track in Delaware

Dover, Dell (NWN) — Speedway Motorsports has reached an agreement to acquire Dover Motorsports, ending NASCAR Tracks in Delaware’s run as one of the last independent operators in the sport.

Dover Motorsports owned both Dover International Speedway and Nashville Superspeedway in Lebanon, Tennessee. Dover competed in its first cup race in 1969 and was the site of two NASCAR weekends in each season beginning in 1971. A date was moved to Nashville before the start of the 2021 season.

SMI entered into an agreement for cash per share of $3.61 for an estimated total equity value of $131.5 million.

The deal was announced on Monday night.

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“While this marks the end of our 52 years as an independent operator at NASCAR, joining forces with a major player in the sport best secures our future advancement and allows us to be part of the Speedway Motorsports family.” are capable of,” said Dover CEO Dennis McGlynn.

SMI CEO Marcus Smith said the purchase was “a tremendous opportunity for us to continue increasing our investment in motorsports.”

SMI already owns Atlanta Motor Speedway, Bristol Motor Speedway, Charlotte Motor Speedway, Kentucky Speedway, Las Vegas Motor Speedway, New Hampshire Motor Speedway, Sonoma Raceway and Texas Motor Speedway.

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