Nov 25, 2013, 6:00 PM EST
The U.S. Motorsport Corporation is planning to sell the 7/8-mile Iowa Speedway in Newton, Iowa according to NBC affiliate WHO-TV in Des Moines. Iowa Speedway currently hosts the NASCAR Nationwide Series, NASCAR Camping World Truck Series, and IndyCar Series.
WHO-TV reports that the company will sell to an undisclosed buyer – only known as “Iowa Speedway, LLC” in documents given to Newton City Council members. The Council will hold a special meeting tomorrow to vote on approving the terms.
The news comes more than two months after the track’s CEO, Doug Fritz, resigned. At that point in time, The Des Moines Register also was reporting that the track was behind on some vendor payments.
In 2011, the Manatt family sold the U.S. Motorsports Corporation to the family of Featherlite Trailers founder Conrad Clement. NASCAR legend and track designer Rusty Wallace remained involved as a minority owner through the exchange.
Iowa has earned praise for its short-track brand of racing, but has had to reduce its schedule from five major weekends this past season to three for 2014. The NNS will visit twice next May and August, while the Trucks and the IndyCars will pair up next July.
Video from NASCAR America
- Weekend wrap: Lewis Hamilton back on top of the F1 mountain 2
- Maurizio Arrivabene replaces Marco Mattiacci as Ferrari team principal 4
- Abu Dhabi GP Paddock Notebook – Sunday 0
- Hamilton calls second title victory “the greatest day of my life” 3
- Hamilton clinches second F1 world title by winning Abu Dhabi GP 10
- The Final Showdown: Hamilton and Rosberg prepare for one final battle in Abu Dhabi 0
- Vettel and Ricciardo to start Abu Dhabi GP from pit lane 0