- Deal ends Dover Motorsports' 52-year stint as an independent circuit operator
- Speedway Motorsports made acquisition at US$3.61 per share
American circuit owner Speedway Motorsports has acquired Dover Motorsports, which owns and operates Dover International Speedway and Nashville Superspeedway.
Speedway Motorsports has acquired the outstanding holding of Dover Motorsports at US$3.61 per share, amounting to a total of US$131.5 million.
The merger means that Speedway Motorsports will now own 12 tracks on the Nascar calendar, whilst Nascar owns the remaining 14.
Additionally, the deal marks the end of Dover Motorsports' 52-year stint as an independent circuit operator.
Currently, Speedway Motorsports' portfolio consists of Atlanta Motor Speedway, Bristol Motor Speedway, Charlotte Motor Speedway, Las Vegas Motor Speedway, New Hampshire Motor Speedway, Sonoma Raceway and Texas Motor Speedway.
"We’ve been committed to working for the fans and growing the sport of Nascar for more than 60 years," said Marcus Smith, president of Speedway Motorsports.
"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."
Denis McGlynn, Dover Motorsports president and chief executive, added: "While this marks the end of our 52 years as an independent operator in Nascar, 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."