Dover Motorsports Inc. releases earnings report, sets sale of Nashville Superspeedway for end of February

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Dover Motorsports Inc. released its fourth quarter and yearly earnings report Thursday.

Because there were no major events at the track in the fourth quarter from October through December, revenue was just $157,000, up from $129,000 in the same quarter the previous year.

For the overall fiscal year that ended Dec. 31, 2014, the track reported income of $45,674,000, compared to $46,180,000 the previous year. The decrease was attributed to lower admissions and event related revenue partially offset by higher broadcasting revenues.

Net earnings were up by more than one million dollars year-over-year. DMI had net earnings of $3,145,000, compared to $2,024,000 in 2013.

DMI is one of only three track ownership groups (the other being Indianapolis Motor Speedway and Pocono Raceway) that host NASCAR events other than International Speedway Corp., and Speedway Motorsports Inc.

One of the most significant aspects of the report concerned the pending sale of Nashville Superspeedway.

Dover Motorsports will receive $27 million when the sale of Nashville Superspeedway is concluded, which is expected to occur at the end of February.

The group that plans on making the purchase, NeXovation, Inc., recently paid a non-refundable $1.7 million to DMI, to be applied to the eventual purchase price of the Gladeville, Tenn., track and surrounding facilities.

NeXovation Inc. also will assume $18.8 million of the trackโ€™s bond obligations to Wilson County, where the track is located. That would make the entire deal worth $45.8 million.

The closing deadline for the sale of the track has been extended three times, the most recent being in late December. NeXovation announced last May that it had reached agreement to purchase the track.

NeXovation officials have said they plan on using the track and its surrounding area year-round and hope to eventually bring NASCAR racing โ€“ most likely either the Xfinity Series or Camping World Truck Series โ€“ back to the speedway.

Last June, NeXovation president Robb Sexton, said he planned on also reaching out to IndyCar for a possible race return to the track.

After 11 years of holding a number of races, there have been no races at Nashville Superspeedway for more than three years.

NeXovation also reportedly plans to develop a potential drag strip, dirt track and short track that were included in original blueprints for the facility.

“We plan to develop the entire facility,” Sexton told the Lebanon (Tenn.) Democrat last June. “We have a comprehensive business plan that involves using the track 52 weeks a year, with a primary emphasis on the motorsports community. Our focus is on a motorsports identity.”

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Lewis Hamilton receives Daytona 500 invitation from Bubba Wallace

Lewis Hamilton Bubba Wallace
Rudy Carezzevoli/Getty Images
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Lewis Hamilton is a fan of the new NASCAR Cup Series team formed by Denny Hamlin and Michael Jordan to field a car for Bubba Wallace.

Will the six-time Formula One champion also be a fan in person at a NASCAR race in the near future?

Wallace is hoping so.

After Hamilton tweeted his support Tuesday morning about the news of a Hamlin-Jordan-Wallace team making its debut with the 2021 season, Wallace responded with a sly invitation to the Daytona 500.

Much would need to be worked out, starting with how much garage and grandstand access would be afforded for a 2021 season opener that likely would occur during a still ongoing novel coronavirus (COVID-19) pandemic.

But it would seem fitting given that Hamilton and Wallace have been two of the world’s most outspoken Black athletes about the quest for diversity and racial justice. Hamilton recently reaffirmed his commitment to activism after his donning a Breonna Taylor shirt sparked an FIA inquiry.

The idea of Hamilton attending the season opener already had legs, too. The Mercedes AMG Petronas F1 driver has expressed a desire to race the Daytona 500 after he has retired from Formula One.

He was a spectator (with racing legend Mario Andretti) at four-time champion Jeff Gordon’s final Cup race as a full-time in the 2015 season finale at Homestead-Miami Speedway. In 2011, Hamilton swapped cars with three-time champion Tony Stewart at Watkins Glen International.

Having rubbed shoulders with other racing greats so often, it only would be fitting if Hamilton — who is one victory from tying Michael Schumacher’s career record and also could tie the F1 record with a seventh championship this season — spent some time with the greatest basketball player of all time.

Jeff Gordon was flanked by Mario Andretti and Lewis Hamilton before the 2015 Cup season finale at Homestead-Miami Speedway (Jared C. Tilton/NASCAR via Getty Images).