By AMANDA VINCENT
Dover Motorsports Inc. has entered into an agreement with Panattoni Development Company, an international commercial real estate developer, for Panattoni to purchase Nashville Superspeedway, according to a recent report from DMI.
Dover Motorsports Inc. is the parent company of Nashville Superspeedway. It also owns and operates Dover (Del.) International Speedway, which hosts all three of NASCAR’s national series — Sprint Cup, Xfinity and Camping World Truck — on a yearly basis.
The agreement has Panattoni purchasing the track near Nashville, Tenn., equipment and other related assets for $27.5 million in cash and assuming $17.2 million in outstanding bonds owed to Wilson County, Tenn. The sale is expected to close in the first quarter of 2017.
Dover Motorsports Inc. previously had a formal agreement with NeXovation to by the track for $46 million, but NeXovation defaulted on the deal in 2015.
Nashville Superspeedway hosted the NASCAR Xfinity and Camping World Truck series between 2001 and 2011. It also hosted several other racing series over the years. The facility shut down in 2011.
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