NEW OWNER: NASCAR Buys Iowa Speedway

The new owner of the Iowa Speedway in Newton is a secret no longer. NASCAR announced Wednesday it has purchased the track.

The news comes a day after Newton’s city council approved the financial details of the sale to Iowa Speedway, LLC. Until Tuesday, who was behind the group was kept a secret.

“The facility has the support of the region, it’s positioned well in the heart of the Midwest, and year in and year out it provides great short-track racing action for motorsports fans,” says Eric Nyquist, VP of NASCAR’s strategic development.

The purchase was finalized Wednesday.

“NASCAR ownership will allow us to draw on the entire resources of our company. It also provides us with the opportunity to execute first-hand 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,” says Nyquist.

NASCAR officials have a December 12th event planned in Des Moines to release more information about the purchase and its plans for the track.

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