Dover’s two Nextel Cup races will cost the track more than $11 million in sanction fees in 2007, according to its annual report. The June race’s sanction fee (including Dover’s contribution to the purse) is $5,914,346, and the September purse contribution and sanction fee is $5,293,075. (The figures are for this year, not 2006, as SceneDaily initially reported.) Dover Motorsports operates four speedways – Dover International Speedway, Gateway International Raceway, Memphis Motorsports Park and Nashville Superspeedway. The company also listed an “impairment charge” of more than $61 million for Nashville, Memphis and Gateway – devaluing the value of those tracks because of the lower-than-anticipated television revenues generated by the four Busch races at those tracks. Dover expected the new TV deal, which went into effect this year, to allot a bigger percentage to Busch races than the 5 percent allocated in the 2001-2006 package. But NASCAR is allotting only 5.75 percent of the new contract for Busch events. With that impairment charge, Dover reported an overall loss of $35.345 million last year. It’s after-tax adjusted earnings for last year were $5.7 million, the same as for 2005.(SceneDaily.com)(4-10-2007)
