Speedway Motorsports completes Dover purchase

Speedway Motorsports completes Dover purchase

NASCAR

Speedway Motorsports completes Dover purchase

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Speedway Motorsports has completed its purchase of Dover Motorsports, the company announced Wednesday. The deal was completed at $3.61 per share price for all outstanding shares of Dover, effected by Speedco II, Inc, a subsidiary of Speedway Motorsports. It’s an approximate total equity value of $131.5 million.

With the acquisition, Speedway Motorsports adds Dover International Speedway and Nashville Superspeedway to its portfolio alongside eight other racetracks that currently host NASCAR events.

In all, Speedway Motorsports operates 11 racetracks through its subsidiaries: Atlanta, Bristol, Charlotte, Dover, Kentucky, Las Vegas, Nashville, New Hampshire, North Wilkesboro, Sonoma, and Texas.

“On behalf of our company I’d like to thank Dennis McGlynn and Dover Motorsports for their cooperation and support through this process,” said Speedway Motorsports president and CEO Marcus Smith. “As our acquisition becomes complete, we look forward to turning our focus toward engaging the teams at Dover and Nashville to produce exciting events for race fans in 2022.”

Dover will host the Xfinity Series on April 30, 2022, and the Cup Series race on May 1.

Nashville Superspeedway hosted its first Cup Series race in June of this year alongside the return of the Xfinity Series and Camping World Truck Series to the facility. Nashville has a four-year agreement with NASCAR, and all three series return for racing there in June 2022.

 

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