Nascar Fans /nhis Sold For $340 Million

[JTD]

WOW!

Bob Bahre has sold his the Loudon racetrack for $340 million in cash to Bruton Smith and his Speedway Motorsports, Inc. The sale was just announced at a Texas news conference which has not yet ended.

Smith said he "will make changes" at the big track and may add more seats. He said fans should "get their tickets early" for next year's racing.

When asked about the possibility of moving one of the track's two NASCAR races to Las Vegas in a future year, Smith said, "We're into this thing (for) just one week. Right now we have no plans to move anything."

He said there had been no promise to Bahre that at least one race would remain in New Hampshire.

The deal was agreed upon last week when Smith came to New Hampshire. It is expected to close in the first quarter of 2008.

[Don]

From Speed TV:


LATEST NEWS
SMI buys New Hampshire track for $340 million

SCENEDAILY - 2:57PM ET FRIDAY NOVEMBER 2, 2007 - BY SCENEDAILY STAFF REPORT

Speedway Motorsports Inc. announced Friday at a news conference at Texas Motor Speedway that it has purchased New Hampshire International Speedway for $340 million.

The purchase, according to a news release, is expected to close in the first quarter of 2008. The track will be renamed New Hampshire Motor Speedway following the closing.

SMI founder and chairman O. Bruton Smith made the announcement Friday. NHIS is owned by the father-son team of Bob and Gary Bahre.

No changes to the track's current schedule, which includes two Nextel Cup races, were announced.

"This is a wonderful opportunity for our company to grow our business as we continue to invest in this sport and the motorsports industry," Smith said in a news release.

Smith added that he has offered Bob Bahre the opportunity to remain associated as a consultant with the track that he built.

SMI now owns seven tracks that host Cup races: New Hampshire, Atlanta Motor Speedway, Bristol Motor Speedway, Infineon Raceway, Las Vegas Motor Speedway, Lowe's Motor Speedway and Texas Motor Speedway.

Smith also purchased Bob Bahre's interest in North Wilkesboro Speedway. The two had split ownership of the track since 1996, each moving one of the track's Cup dates.

New Hampshire opened in 1990, originally hosting one Cup race, starting in 1993. A second date was added in 1997. SMI officials said the track sits in 1,100 acres in Loudon, N.H. and seats 92,000 for oval track events. The site also includes a 1.6-mile road course.

Link to SMI press release:

http://phx.corporate-ir.net/phoenix....ar&id=1071914&

[WildBill3]

knowing what happend to northwilksburo im not shure what will happen for the nextel guys up ther,at least thers a raod corse that would keep it alive for the sports car guys !!!I would like to attend a track session ther sounded like a nice facility....WB3

[1985 CCX]

Hopefully this means there will be a cash influx and more racing whether it be NASCAR, SCCA, SCDA, etc.....

[Don]

From the MotorSports.com newsletter:

NASCAR Chairman statement on NHIS sale
Racing series BUSINESS NASCAR
Date 2007-11-02
Statement from Brian France, NASCAR Chairman and CEO

DAYTONA BEACH, Fla. (Nov. 2, 2007) -- Today's 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 NASCAR's 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 there's no doubt that will continue.

While we don't have any details about SMI's 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 NASCAR's "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 NASCAR's 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.