KENTUCKY SPEEDWAY SOLD TO SPEEDWAY MOTORSPORTS, INC.
Speedway Motorsports, Inc. (SMI) announced today that it has purchased Kentucky Speedway. SMI Founder, Chairman and Chief Executive Officer O. Bruton Smith, made the announcement at a 3:00 P.M. news conference at Lowe’s Motor Speedway. This announcement is a major step towards the Speedway’s goal of bringing a NASCAR Sprint Cup race to the Northern Kentucky track.
Kentucky Speedway founder and Chairman Jerry Carroll aggressively pursued the coveted Sprint Cup race since opening the track. NASCAR isn’t likely to add more Cup races to its already full schedule so the best shot at getting a race is to move one from another track to Kentucky Speedway. This is possible for SMI which owns seven tracks with a total of thirteen Sprint Cup races.
Smith is obviously excited about the possibilities with his newly acquired speedway. Smith was asked “Why Kentucky, why now?” He replied, “We completed the purchase contract. I like the place. I’ve been there. It’s a hotbed of racing.” Smith also talked about the large population in the Northern Kentucky/Greater Cincinnati area, which is much larger than most people realize. He mentioned the close proximity to the Greater Cincinnati airport which is located in Northern Kentucky and is a short drive from Kentucky Speedway. In other words, he checked out the place and likes what he sees!
One questioner wondered if the region might be oversaturated with tracks. Smith’s reply: “I grew up with race tracks all around in North Carolina. I’m not sure that doesn’t help.”
Smith said he is delighted that Jerry Carroll agreed to stay for onsite management of the track. Carroll and Kentucky Governor Steve Beshear will be guests of Smith for the Coca-Cola 600 at the Smith owned Lowe’s Motor Speedway in Concord, N.C.
5/22/2008 Ron Singleton, LuvRacin.com, firstname.lastname@example.org