NHIS sold to SMI?

openwheelracer · Admin/Mod/Eyewitness

NHIS sold to SMI?

scott121476 · Moderator

brian france is a joke...... he dont see that nascar is declining ?

from jayski

Statement from Brian France, NASCAR Chairman and CEO concerning New
Hampshire being sold: Todays announcement that Speedway Motorsports Inc. has purchased New Hampshire International Speedway is yet another indication that the NASCAR industry continues to grow and thrive. Capitalizing on NASCARs national appeal and growth, the Bahre family created a passionate fan base and developed a valuable venue that has hosted the largest sporting events in New England including 26 consecutive sellouts. The success of NHIS, and the desire of the Bahre family to sell, made the track very attractive to SMI and several other interested buyers. SMI has a highly regarded record for hosting some of the most successful and enjoyable race events in all of NASCAR, and theres no doubt that will continue. While we dont have any details about SMIs plans for NHIS, all sanctions for 2008 have been signed and finalized. As a result, there will be no location changes to the 2008 schedule that was released last month. This is important to the fans, competitors, broadcast partners and sponsors who have already made plans for the 2008 races. Looking beyond 2008, NASCAR will continue to consider requests by any track operator, including SMI, to relocate race dates. Under NASCARs realignment plan, we have worked with track owners to relocate race dates to meet the needs of our growing national fan base. Ultimately, any change must meet NASCARs objectives and serve our fans. The industry owes Bob and Gary Bahre a debt of gratitude for their leadership and commitment to NASCAR. All of NASCAR wishes the Bahre family well during this time of transition. They will always be considered pioneers in NASCAR.(NASCAR PR)(11-2-2007)

openwheelracer · Admin/Mod/Eyewitness

More from Jayski.com:

OFFICIAL - SMI buys New Hampshire track, renames it: Speedway Motorsports, Inc. (NYSE:TRK) has agreed to purchase New Hampshire International Speedway from Bob and Gary Bahre for $340 million in cash. The agreement was announced today by O. Bruton Smith, founder, chairman and chief executive officer of Speedway Motorsports, Inc. The acquisition is expected to close in the first quarter of 2008. To align with other SMI-owned speedway brands, the track will be renamed New Hampshire Motor Speedway following completion of the acquisition. The speedway, which opened in 1990 and hosts two Nextel Cup Series events each year, is located about one hour north of Boston in Loudon, N.H. According to the latest census numbers, the population within 200 miles of the speedway is more than 18 million people. The venue is easily accessible via Interstate highways from all metro areas in the northeastern United States and eastern Canada. Located on approximately 1,100 acres, the multi-use complex is the largest sports facility in New England and features a 1.058-mile oval speedway, with chair-back seating for 92,000 spectators, and a 1.6-mile road course. The speedway hosts the only Nextel Cup Series, Busch Series, and Craftsman Truck Series events held in the six-state New England region. Both Nextel Cup Series races regularly sell out and exceed the NFL Super Bowl in attendance. "This is a wonderful opportunity for our company to grow our business as we continue to invest in this sport and the motorsports industry," said Smith. Smith added that he has offered Bob Bahre the opportunity to remain associated as a consultant with the track that he built. In addition to the major NASCAR races, the track hosts several regional professional racing series, including the NASCAR Grand National Division, NASCAR Busch East Series and the NASCAR Whelen Modified Tour. Amateur series events complete the schedule with SCCA sports cars, motorcycles, World Karting Association go-karts and racing schools. New Hampshire Motor Speedway will join a strong portfolio of SMI facilities. The company also owns and operates Atlanta Motor Speedway, Bristol Motor Speedway in Bristol, Tenn., Infineon Raceway in Sonoma, Calif.; Las Vegas Motor Speedway, Lowe's Motor Speedway in Concord, N.C.; and Texas Motor Speedway in Ft. Worth, Texas. With this acquisition, the company will own race tracks in the West, Northeast, Southeast and Southwest, including four of the nation's top-10 metropolitan markets. The breakdown includes: the sixth-largest market (Infineon/San Francisco); the fifth-largest market (Texas/Dallas-Ft. Worth); the seventh-largest market (New Hampshire/Boston); the ninth-largest market (Atlanta); the 25th-largest market (Lowe's/Charlotte); the 41st-largest market (Las Vegas); and the 92nd-largest market (Bristol/Tri-Cities). Speedway Motorsports, Inc. will promote 13 NASCAR-sanctioned Sprint (formerly NEXTEL) Cup races in 2008 and nine NASCAR-sanctioned Nationwide (formerly Busch) Series events. Combined seating for the seven SMI facilities will exceed 850,000 permanent seats.(SMI PR)(11-2-2007)