Dover agrees to sell Nashville track to real estate company

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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.

Ganassi announces multiyear sponsorship extension with American Legion for No. 10

Chip Ganassi American Legion
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Chip Ganassi Racing announced a new primary sponsorship deal with The American Legion this week, shoring up the funding on its No. 10 Dallara-Honda of Alex Palou.

The 2021 NTT IndyCar Series champion primarily had driven with NTT Data sponsorship the past two seasons. But NTT Data will move next season to McLaren Racing as a primary sponsor for Felix Rosenqvist in 10 races and on the Indy 500 car of Tony Kanaan (who drove an American Legion car for Ganassi at the Brickyard last year).

It was the latest twist in a McLaren-Ganassi saga that included a contract dispute for the services of Palou (who is expected to move to McLaren in 2024 after reaching an agreement to race with Ganassi next year).

Ganassi stayed within its own walls to help plug the sponsorship gap left by NTT Data, re-signing The American Legion to a multiyear extension. The Indianapolis-based non-profit organization, which has been sponsoring Ganassi cars for the past few seasons, also will be associated with other Ganassi drivers, including Indy 500 winner Marcus Ericsson and development driver Kyffin Simpson in Indy NXT.

The Ganassi organization will continue promoting The American Legion’s “Be The One” campaign aimed at reducing veteran suicides. The team launched an online auction for the initiative this week.

“Supporting our nation’s veterans is of immense importance to our organization and we are humbled to continue supporting The American Legion’s mission in ending veteran suicide,” team owner Chip Ganassi said in a release. “We will do absolutely everything we can to help veterans get the support they need while raising public awareness of the ‘Be The One’ platform.”

“We have received an overwhelming amount of support from fans, active-duty military members and veterans as a result of this partnership and we’re pleased to see it grow,” said Dean Kessel, chief marketing officer at The American Legion. “Thanks to the continuous collaboration with the team’s other partners, and the promotion of the ‘Be The One’ initiative, we are discovering more ways to engage with the military community than ever before. We want all veterans to know that it’s okay to ask for help.”