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**UPDATE** NASCAR Purchases IA Speedway

by KIX 101.1/ 1230 KFJB Sports Department posted Nov 27 2013 2:00PM

**UPDATE**

NASCAR has announced today that it has purchased Iowa Speedway.

The agreement, finalized today under a wholly-subsidiary, Iowa Speedway, LLC, is effective immediately.

In a press release, Eric Nyquist, NASCAR vice president, strategic development, said, "Iowa Speedway is a great entertainment facility with a very bright future."

"NASCAR ownership will allow is to draw on the entire resources of our company. It also provides us with the opportunity to execute firsthand a number of entertainment ideas and engagement opportunities with fans - much of which we have outlined repeatedly as the core of our Industry Action Plan."

NASCAR will host a special event in Des Moines on Thursday, December 12th, to outline additional details on the purchase and plans for the future. Information about this event will be announced soon.
 
 

11/26/13 Newton City Council Approves Sale of the Iowa Speedway

The Newton City Council has approved the transfer of ownership of the Iowa Speedway.The name of the new owner was not released, as Michael Hansen Mayor of Newton pointed out they will be keeping quiet for now.

"The city staff, the mayor, and the council are fully aware of who the new ownership entity is," Hansen says,"We are extremely pleased that this entity is interested in the Iowa Speedway and we're looking forward to a fantastic, long, and prosperous relationship with those folks." 
       
Hansen made the announcement at the supplemental meeting on Tuesday afternoon. However he said the the company announce the new ownership, rather than the city.
 
"Out of respect for the new ownership entity, and their request, we will not reveal who they are," Hansen announced.

And it did not stop there.

He continued on in saying, "We will not entertain interviews that will go down that line of questioning [to reveal the name]. But, there will be announcement shortly and we obviously want them to be in control of that."
 
Iowa Speedway spokesperson Craig Armstrong, also did not divulge the name but says the announcement will come soon.
 
"I think that will be yet to be revealed," Armstrong indicated, "and it will be obvious at the time that it is revealed and I think everyone's going to be looking forward to that day."  
       
He also implied  that the sale was not complete just yet, hence the secrecy saying, "Obviously, it's something that we want to maintain control of the discussion and at the appropriate time everything will come out."
 
The Clement family has owned the track for the past two years, and the Manatt family before them since the track opened in 2006.


--By 1230 KFJB Reporter Katherine Fritcke
 
 
 
Filed Under :
Location : IowaNewton
11/26/2013 3:37PM
Newton City Council Gives Approves Sale of the Iowa Speedway
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