Speedway Motorsports is currently publicly traded. SMI owns Atlanta Motor Speedway, Bristol Motor Speedway, Charlotte Motor Speedway, Kentucky Speedway, Las Vegas Motor Speedway, New Hampshire Motor Speedway, Sonoma Raceway and Texas Motor Speedway.
Sonic Financial Corporation (owned and controlled by Bruton Smith and his family) would become the owner of SMI.
The company says “We believe this merger transaction strengthens the Company’s capabilities to compete in the challenging and changing environment affecting motorsports and to continue to invest in innovative and entertaining facilities, leading-edge technology, expanded product merchandising and other strategic initiatives.”
Speedway Motorsports Inc board has agreed to Smith family (through its Sonic Financial Corp) offer to take company private at purchase price of $19.75 per share. Original offer to buy out non-Smith family shareholders was $18. Still needs approval from non-Smith shareholders.
— Bob Pockrass (@bobpockrass) July 24, 2019
SMI sent a memo to employees today with a FAQ section. It says it doesn't plan to eliminate jobs by taking the company private. Here is a link to what the company sent to employees: https://t.co/T5XHuNlbAP #nascar
— Bob Pockrass (@bobpockrass) July 24, 2019