Bruton Smith to buy Kentucky Speedway
"He wouldn't be buying the track if he wasn't going to bring a Sprint Cut race here," said Carroll as he rode to the airport to take a charter flight to North Carolina for the announcement.
Speculation is that Smith will move a Sprint Cup race from tracks he operates in Atlanta or New Hampshire.
Track employees were informed of the sale during a 30-minute staff meeting held this morning at the track’s business offices in Fort Mitchell. The message from Carroll, track president Mark Simendinger and executive vice president and General Manager Mark Cassis was to continue operating as usual. The speedway employs about 30 people.
Carroll said Smith has asked him to stay on in an executive capacity, an offer he is likely to accept. No job cuts are planned.
"I want to stay on because I am so close to the speedway," Carroll said. "I want to make sure everything that is promised is followed through on and that everything is done in a proper manner.
"We're very proud and excited to be a part of Bruton's team."
In a statement made available to The Enquirer Smith said that the purchase "is a wonderful opportunity for our company to grow into a new market in a modern facility."
"We continue to be committed to investing in the motorsports industry," Smith said in the statement.
Carroll said Smith has met with Gov. Steve Beshear to discuss his ownership of the track. Carroll said Smith may also "request some help" from the state, but he would not discuss details of what that might entail.
Carroll said he and Beshear are flying to North Carolina this weekend for the Coca-Cola 600 that will be at Lowe's Motor Speedway in Concord, N.C., one of Smith's tracks.
"The governor will see first hand the magnitude of this sport, the people it draws and the ripple effect it can have on the economy," Carroll said. Cincinnati Enquirer
05/22/08 The future of Kentucky Speedway is expected to be addressed during a “major announcement" scheduled for Thursday afternoon in Concord, N.C. Sources close to the speedway confirmed to the Enquirer tonight [May 21st] that Kentucky Speedway officials have been in talks with Speedway Motorsports Inc. chairman and chief executive officer O. Bruton Smith about selling or partnering with the Sparta track owned by Jerry Carroll and his partners. A spokesman with Lowe’s Motor Speedway, one of the seven tracks owned by SMI that hosts NASCAR Sprint Cup Series races, indicated only that Thursday's announcement would be of interest. The exact nature of the announcement is not immediately known, but it could include selling all or part of the speedway or partnering with Smith to bring a Sprint Cup race to the 1.5-mile track. Smith will make the announcement at 3pm/et Thursday in the media center at Lowe’s Motor Speedway. Carroll was unavailable for comment Wednesday. News of a potential deal with SMI comes at the same time lawyers representing Kentucky Speedway continue to fight in 6th U.S. Circuit Court of Appeals the early January decision by a U.S. District Court judge to dismiss the track’s antitrust lawsuit against NASCAR and International Speedway Corp. Cincinnati Enquirer