Report: Bruton Smith buying New Hampshire

Report: Bruton Smith buying New Hampshire

Sources with knowledge of the deal indicated last night that O. Bruton Smith, CEO and chairman of Speedway Motorsports Inc., had entered into an agreement to purchase New Hampshire International Speedway from Bob Bahre, the track’s 80-year-old chairman who is among a rare breed in NASCAR: the independent track owner/operator. A press conference is expected to be held tomorrow at Texas Motor Speedway, one of six SMI-owned racing venues that stage 10 Nextel Cup events. With the acquisition of NHIS, that stands to grow to 12 Cup dates. Efforts to reach Bahre last night were unsuccessful. Reached last night, NHIS spokesman Fred Neergaard said, “There’s nothing new to report.” An SMI source, however, indicated Smith had reached an accord with Bahre, but was not clear as to the terms. SMI’s racing empire includes Infineon Raceway in Sonoma, Calif., and Las Vegas Motor Speedway, which host one Cup event, and Bristol Motor Speedway, Atlanta Motor Speedway, Lowe’s Motor Speedway in Concord, N.C., and Texas, which host two Cup dates. Texas won its second Cup date as part of a lawsuit settlement stemming from a complaint brought by Francis Ferko, an SMI shareholder, against NASCAR and International Speedway Corp. Smith acquired his first Texas date and Bahre his second NHIS date after they partnered in 1996 to purchase North Wilkesboro (N.C.) Speedway and split its two Cup dates. NASCAR, though, must approve and sanction all dates and race locations before any changes are made to the schedule. NASCAR, which has released its 2008 Sprint Cup schedule, has signed agreements with tracks for all 36 races next season. It had long been speculated that if NHIS were to be sold to Smith, it would take him no time to strip the track of its Cup dates. But, the SMI source suggested, that may not be the case. While NHIS could lose its July date to Las Vegas, SMI could salvage NHIS’s spot on the NASCAR schedule by swapping Chase dates with Texas, thus making it the start of the Chase. Boston Globe Bookmark to:

Date: November / 1 / 2007
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