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Updated: 5:41 p.m. Friday, Nov. 2, 2007 | Posted: 9:30 a.m. Friday, Nov. 2, 2007
FORT WORTH, Texas —
Speedway Motorsports chairman Bruton Smith confirmed Friday that he has agreed to buy the New Hampshire track for $340 million from 80-year-old independent owner Bob Bahre in a deal that should be completed early next year.
Smith was much less direct about how the purchase could affect his long-standing desire to add a second Cup race at Las Vegas, one of the other six tracks Smith already owns.
"We don't plan to make any changes at this time," Smith said. "We're new in this. We've just done this. It's going to take us some time to develop all of our plans that concern the speedway there."
There is widespread speculation that Smith will move one of the races from New Hampshire, possibly the Chase for the Nextel Cup race, to Las Vegas as early as 2009.
Asked numerous times and different ways about that possibility Friday, Smith maintained that it was too early to know.
"We've only been here a week, and have not had time to develop some of the answers to some of your questions," Smith said from Texas, one of his tracks and where the NASCAR Nextel Cup, Busch and Trucks series run this weekend.
Bahre said he was hopeful that Smith wouldn't move one of New Hampshire's races, but acknowledged that there is nothing in the deal that would prevent that from happening.
"I told him I didn't want any dates going out of there, but I can't stop him," Bahre said. "I told him, `Bruton, I hope you'll keep them here.' I got the feeling he would."
Smith said buying New Hampshire won't have any affect on his thoughts about replacing Lowe's Motor Speedway in Concord, N.c., with a new track somewhere in the Charlotte area.
"This purchase has nothing to do with that," Smith said. "What we announced today has no bearing with that we will do with Lowe's Motor Speedway."
Smith said at least four other entities, including Boston Red Sox owner John Henry, also were trying to buy New England's largest sports venue. Smith said at least one potential buyer offered more money than he did.
But Smith said his friendship with Bahre was likely a "big factor" in getting the deal done. Bahre will remain involved with the track as a consultant to Smith.
"We look forward to working closely with Bruton Smith and his team during the upcoming transition and for years to come," Bahre said.
Other potential buyers were George Gillette, a Canadian billionaire who is part owner of Gillette-Evernham Motorsports and also owns the NHL's Montreal Canadiens; Kentucky Speedway owner Jerry Carroll and Roger Penske.
NASCAR said there would be no changes to the 2008 season schedule released last month.
"While we don't have any details about SMI's plans for NHIS, all sanctions for 2008 have been signed and finalized," NASCAR chairman Brian France said. "As a result, there will be no location changes to the 2008 schedule."
France said, however, that NASCAR would consider requests by any track operator about relocating future race dates.
Las Vegas general manager Chris Powell said NASCAR has made it clear in the past that the way to get another date at his track would be through Speedway Motorsports, which has 10 Cup races at its tracks before adding the New Hampshire dates.
"I think there's more of an opening now than we've ever had," said Powell, who attended Smith's news conference. "Now that our company is expanding somewhat, Bruton seemed to me to leave the door open a little bit for the future."
Bahre purchased his motorsports park in 1989 and turned it into a mile superspeedway the next year.
There were 101,000 fans at New Hampshire on Sept. 16, which was the track's 26th consecutive sellout. That race came on the same day the Red Sox played the New York Yankees at Fenway Park and the New England Patriots were at home against San Diego.
Bahre and Smith purchased North Wilkesboro Speedway in North Carolina for $14 million in the mid-1990s, then moved the two NASCAR cup dates that were run there to their tracks, including the first Texas date. The deal for New Hampshire gave Smith full ownership of Wilkesboro.
Smith also owns Atlanta Motor Speedway, Bristol Motor Speedway and Infineon Raceway in California.
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