Nashville Superspeedway to Get New Owner in Multi-Million Dollar Deal

By Community | May 29, 2014

Nearly three years after reducing its public access and closing to competitive racing, seek the Nashville Superspeedway motor racing complex will have a new owner.

U.S.-based NeXovation, Inc., a global innovation company and active pursuant (highest bidder) for the iconic Nürburgring motor sports facility in Germany, announced today that it has entered into a definitive agreement to acquire the Nashville Superspeedway in Lebanon, Tenn., from Dover Motorsports, Inc.

Under the terms of the agreement, NeXovation will acquire the Nashville Superspeedway facility along with some related equipment and assets for $27 million in cash from Dover Motorsports and its wholly-owned subsidiary, Nashville Speedway U.S.A., Inc. Closing is expected to take place in the third quarter of 2014 and is subject to customary closing conditions.

“With our unique business model, passion for automotive technology and motor sports, and a tremendous market right in our own backyard, the Nashville Superspeedway is the perfect complement to our innovative and technological focus,” said Robert Sexton, CEO of NeXovation. “After creating and developing this opportunity within NeXovation for nearly two years, we are excited about implementing a completely new business model that we believe will transform this complex into a fully immersive experience in the world of high performance motor sport, automotive technology, and experiential venues.”

Nashville Superspeedway first opened in 2001 and is situated on almost 1,400 acres of land just outside of Nashville, Tenn. The 1.33-mile concrete superspeedway has a permanent seating capacity of 25,000 as well as lighting for nighttime events.