Speedway Motorsports Completes Purchase Of Dover Motorsports, Nashville Superspeedway

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Nashville Superspeedway. Photo: Jared C. Tilton/Getty Images

Speedway Motorsports has officially purchased all outstanding shares of Dover Motorsports, which includes Dover Speedway and Nashville Superspeedway.

The offer was previously announced in November, but is now finalized as Speedway has bought Dover at a per share price of $3.61 (the “tender offer”), net to each selling stockholder in cash, without interest, and less any applicable withholding taxes.

“On behalf of our company I’d like to thank Denis McGlynn and Dover Motorsports for their cooperation and support through this process,” says Speedway Motorsports President and CEO Marcus Smith. “As our acquisition becomes complete, we look forward to turning our focus toward engaging the teams at Dover and Nashville to produce exciting events for race fans in 2022.”

Speedway Motorsports will complete its acquisition of Dover through consummation of a merger of Speedco II, with and into Dover without a vote of the Dover stockholders, in accordance with Section 251(h) of the General Corporation Law of the State of Delaware.

The merger is anticipated to be effective as of Dec. 22, 2021. Each remaining share of Dover not purchased in the tender offer will be converted into the right to receive the same $3.61 in cash, without interest, and less any applicable withholding taxes, that will be paid in the tender offer.

Dover Motorsports announced the reopening of the Nashville Superspeedway in June of 2020. The speedway hosted a NASCAR tripleheader weekend for the first time in June of 2021 with the inaugural Ally 400 Cup Series race. The 2022 Ally 400 is set for June 26.

Steven Boero
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