Speedway Motorsports and Dover Motorsports have entered into an agreement under which Speedway Motorsports has agreed to acquire Dover Motorsports for an approximate total equity value of $131.5 million.
Speedway Motorsports owns and operates Atlanta Motor Speedway, Bristol Motor Speedway, Charlotte Motor Speedway, Las Vegas Motor Speedway, New Hampshire Motor Speedway, Sonoma Raceway, Texas Motor Speedway and Kentucky Speedway. Dover Motorsports currently owns two of auto racing’s most distinctive venues, Dover International Speedway in Dover, Delaware, and Nashville Superspeedway in Lebanon, Tennessee. The tracks are the largest concrete-only venues hosting NASCAR events.
“We’ve been committed to working for the fans and growing the sport of NASCAR for more than 60 years,” said Speedway Motorsports President and Chief Executive Officer Marcus Smith. “This is a tremendous opportunity for us to continue growing our investment in motorsports. I’d like to thank Denis McGlynn and the Dover Motorsports board for their cooperation and support in our goal to exceed customer expectations and create amazing lifetime experiences for all NASCAR fans.”
The transaction is expected to close by the end of this calendar year.
“While this marks the end of our 52 years as an independent operator in NASCAR,” said Dover Motorsports President and Chief Executive Officer Denis McGlynn, “our future advancement is best secured by joining forces with a major player in the sport and we are happy to be able to become part of the Speedway Motorsports family and to be able to work with Marcus Smith as NASCAR embraces its future.”