SMI Purchases New Hampshire

Speedway Motorsports Inc. (SMI) has purchased New Hampshire International Speedway from owner Bob Bahre in a transaction that adds the one-mile speedway to the company's properties.

SMI paid $340 million for the speedway which will change its name to New Hampshire Motor Speedway.

The acquisition is expected to close in the first quarter of 2008.

The speedway, which opened in 1990 and hosts two Nextel Cup Series events each year, is located about one hour north of Boston in Loudon, N.H. According to the latest census numbers, the population within 200 miles of the speedway is more than 18 million people.

"This is a wonderful opportunity for our company to grow our business as we continue to invest in this sport and the motorsports industry," said Smith.

Smith added that he has offered Bob Bahre the opportunity to remain associated as a consultant with the track that he built.

While there has been speculation Smith would take one or both dates from New Hampshire and move them to one of SMI's other tracks, there was no mention of any such intention during Friday's announcement.

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