Is the Kentucky Track Deal Wavering?

Speedway Motorsports Inc. may bail on the purchase of Kentucky Speedway.

The deadline for SMI to decide if they want to close the track purchase deal is Aug. 18, unless they're just stalling to put pressure on various parties. They may still dole out an amendment to extend the date and who would argue if Kentucky doesn't have any other takers?

Right now, the purchase price is at $78 million and that includes absorbing a grand debt of $63 million in the process! OK, my credit card bills just aren't that bad!

"I can't answer definitively whether or not we would go forward with the transaction," Bill Brooks, the company's chief financial officer, said during a conference call with financial analysts Wednesday.

If they do close the deal, SMI would consider moving a Cup date from one of its current tracks to Kentucky. Great, another track to lose a date. Can't wait for that one!

source: thatsracin

North Carolina Speedway to be Auctioned

Left behind as NASCAR outgrew its regional roots, North Carolina Speedway will be sold to the highest bidder Tuesday.

Where legends such as Earnhardt, Petty and Waltrip once raced, prospective buyers will compete to be the next owner of “The Rock,” which held its last race in early 2004. No minimum bid. High offer gets the speedway.

Three years ago, The Rock sold for about $100 million in a legal settlement. Tax records place the current value at $30 million. Some say it will sell for less than $10 million.

... See the rest of the article by Jefferson George at thatsracin.com