$340M Propels Race Track Giant Into NH

LOUDON, NH-In a deal that could represent the priciest single-asset real estate transaction in the state’s history, Speedway Motorsports Inc. has agreed to buy the New Hampshire International Speedway for $340 million. The 1,100-acre complex opened in 1990 and today can accommodate up to 92,000 spectators.

“This is a wonderful opportunity for our company to grow our business as we continue to invest in this sport,” says O. Bruton Smith, CEO of Speedway Motorsports. The Charlotte, NC-based company will now own race tracks in the Northeast, Southeast, Southwest and West, including facilities in four of the country’s top 10 metropolitan markets, with Boston/NH ranked seventh. Closing on the deal is anticipated by the end of the first quarter in 2008.

To maintain a consistent brand, the raceway will be recast as New Hampshire Motor Speedway by the new ownership. Existing operations for the group include Atlanta Motor Speedway; Bristol Motor Speedway in Bristol, TN; Las Vegas Motor Speedway; Lowe’s Motor Speedway in Concord, NC; and Texas Motor Speedway in Fort Worth.