Dover Motorsports announces sale to Speedway Motorsports
Dover International Speedway will be under new ownership soon.
Dover Motorsports, which owns the “Monster Mile” and Nashville Superspeedway, is being acquired by Speedway Motorsports. Speedway Motorsports will pay $3.61 per share in cash for an approximate total equity value of $131.5 million to acquire Dover Motorsports,
The deal ends Dover Motorsports' 52 year run as independent NASCAR track operator which began in 1969 with the opening of Dover International Speedway.
It also adds Dover and Nashville to the 8 other NASCAR tracks Speedway Motorsports owns – including Charlotte, Atlanta, Bristol, Las Vegas and Texas Motor Speedways.
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 CEO Marcus Smith in a statement. “This is a tremendous opportunity for us to continue growing our investment in motorsports.
“While this marks the end of our 52 years as an independent operator in NASCAR,” said Dover Motorsports President and CEO Denis McGlynn
in a statement, “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.”
The deal is expected to close by the end of the year.
Dover had hosted 2 NASCAR race weekends each year for nearly 50 years before Dover Motorsports moved one to it Nashville track this year. Both tracks are scheduled to host race weekends in 2022. Dover's race weekend is slated for April 29 through May 1.
Dover International Speedway is also home to the Firefly Music Festival, which is scheduled to celebrate its 10th anniversary at the Woodlands at Dover International Speedway in September 2022.