Skip navigation
Favorites
Sign up to follow your favorites on all your devices.
Sign up

Dover agrees to sell Nashville track to real estate company

Firestone Indy 200

NASHVILLE, TN - JULY 15: Scott Dixon driver of the #9 Target Chip Ganassi Racing Dallara Honda, and Dario Francitti driver of the #27 Canadian Club Andretti Green Racing Dallara Honda, lead the field during the IRL Indycar Series Firestone Indy 200 on July 15, 2007 at the Nashville Superspeedway in Lebanon, Tennessee. (Photo by Gavin Lawrence/Getty Images)

Getty Images

NASHVILLE, Tenn. (AP) Dover Motorsports Inc. has a new buyer for the Nashville Superspeedway in a commercial real estate development company.

The motorsports company said Thursday that Panattoni Development Company will buy the superspeedway for $27.5 million and also take over Dover’s obligations under bonds issued in 1999 to help build infrastructure supporting the track. The bonds currently have a balance of $17.2 million, and Panattoni will replace Dover Motorsports’ letter of credit with its own.

Dover expects the sale to close in 2017 pending zoning approvals.

This is the second time Dover announced a buyer of the 1.33-mile concrete track about 30 miles east of Nashville that closed in 2011. Dover announced in May 2014 a deal selling to NeXovation Inc. worth nearly $46 million, which later fell through.