Speedway Motorsports to Purchase Dover Motorsports
Become a Patron! Speedway Motorsports Inc. (SMI) has agreed to purchase the parent company of the Dover and Nashville Speedways, Dover Motorsports. Additional report from Pockrass indicated that Speedway Motorsports would spend $3.61 per share totaling over $130 million. Dover Motorsports does post their profits and other financial data to the public each quarter, so it could be expected that this information will be confirmed by the end of the year. A comment from Said McGlynn, President and CEO of Dover Motorsports indicated a bittersweet moment for the brand. “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.” According to a press release from SMI, "Raymond James & Associates, Inc. is acting as fi...
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