Speedway Motorsports
An American motorsports company that owns and manages racing facilities and promotes major racing events.
Last updated August 26, 2026
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Overview
Speedway Motorsports, LLC is an American motorsports promotion and venue-management company whose principal business is the ownership and operation of automobile racing facilities. Its portfolio has included major NASCAR venues such as Charlotte Motor Speedway, Atlanta Motor Speedway, Bristol Motor Speedway, Las Vegas Motor Speedway, New Hampshire Motor Speedway, Texas Motor Speedway, Sonoma Raceway, Nashville Superspeedway, and Dover Motor Speedway. The company also has interests in motorsports media, racing merchandise, grassroots competition, and event services. The business grew out of Bruton Smith's activities as a race promoter and track builder. Smith helped establish Charlotte Motor Speedway in 1959 and later returned to control the facility after building a successful career outside racing. During the 1970s and 1980s, he expanded Charlotte's seating, amenities, and commercial facilities, helping develop the modern model of a large, spectator-oriented motorsports complex. The company added night-racing capability at Charlotte and developed the Legends racing concept, which later became associated with U.S. Legend Cars International. Speedway Motorsports began acquiring additional venues in the early 1990s, starting with Atlanta Motor Speedway. It was formally incorporated in December 1994 and became a public company in February 1995 under the name Speedway Motorsports, Inc., trading on the New York Stock Exchange with the ticker SMI. Rapid expansion followed. Bristol Motor Speedway and Sonoma Raceway joined the portfolio in 1996, Texas Motor Speedway opened in 1997, and Las Vegas Motor Speedway was acquired in 1999. These transactions made SMI one of the most important independent track owners in American racing and gave it a broad geographic footprint across the United States. A central feature of SMI's strategy was to obtain and develop NASCAR race dates. Track acquisitions, scheduling negotiations, and venue improvements were used to strengthen the company's position in the NASCAR calendar. This strategy also produced disputes, including litigation associated with the movement of race dates from North Carolina Speedway and North Wilkesboro Speedway to Texas Motor Speedway. SMI later acquired New Hampshire International Speedway, Kentucky Speedway, and other properties, although some venues subsequently changed ownership, closed, or lost NASCAR dates. Beyond track operations, the company owns the Performance Racing Network, a radio and audio-content business that broadcasts races from SMI venues. It has also owned or operated racing-school, event-management, club, licensing, and grassroots-racing businesses. Motorsports Authentics, a merchandise venture formed with International Speedway Corporation, expanded the companies' participation in licensed racing products. In 2021, SMI acquired Dover Motorsports, adding Dover Motor Speedway and Nashville Superspeedway to its portfolio. After approximately 25 years as a public company, Speedway Motorsports was taken private in September 2019. It became a wholly owned subsidiary of Sonic Financial Corporation, which is controlled by members of the Smith family. The organization remains focused on venue ownership, promotion of NASCAR and other racing events, sponsorship and hospitality programs, media distribution, and the development of racing properties. The company has also participated in the management of the NASCAR event weekend at Circuit of the Americas and, according to the supplied reference material, joined the ownership group of the CARS Tour in 2026.
History
Speedway Motorsports developed from Bruton Smith's long involvement in American racing promotion. Smith began promoting races in the 1950s and helped build Charlotte Motor Speedway in 1959. Although he temporarily left the racing business to pursue other ventures, he had regained a majority interest in the Charlotte facility by 1975 and became its chief executive. In 1976, he appointed Humpy Wheeler as general manager. Under their direction, Charlotte expanded its grandstands and amenities, including condominium-style facilities that were unusual for a sports venue at the time. The company began its modern expansion in 1990, when Smith acquired additional speedway properties, beginning with Atlanta Motor Speedway. Charlotte received major infrastructure improvements, including lighting added in 1992 that enabled night racing. During this period, Smith also developed the Legends car concept, a compact racing format intended to provide relatively accessible competition for drivers and promoters. The related business later became U.S. Legend Cars International. Speedway Motorsports was formally incorporated in December 1994. On February 24, 1995, it completed a public offering and began trading on the New York Stock Exchange as Speedway Motorsports, Inc., using the ticker SMI. The company then accelerated its venue-ownership strategy. Bristol Motor Speedway and Sonoma Raceway were acquired in 1996. Texas Motor Speedway was completed in 1997 after a reported investment of approximately $250 million and was designed as a major new market for NASCAR racing. By the late 1990s, SMI's permanent seating capacity had expanded dramatically from the level associated with Charlotte alone. In 1999, SMI acquired Las Vegas Motor Speedway after outbidding International Speedway Corporation. The same year, Charlotte Motor Speedway's naming rights were sold to Lowe's in a long-term commercial agreement, illustrating SMI's emphasis on corporate partnerships and venue monetization. ISC's acquisition of Penske Motorsports in 1999 made ISC the larger track-owning company, and SMI subsequently concentrated on strengthening its NASCAR schedule and seeking additional race dates for its facilities. The company used acquisitions and track-development projects to influence the distribution of NASCAR events. In 1996, SMI and Bob Bahre acquired interests in North Wilkesboro Speedway, and race dates were later moved from that venue to Texas Motor Speedway and New Hampshire. SMI acquired North Carolina Speedway through the consequences of the Ferko litigation in 2004, closed the facility, and moved its final race date to Texas. The former North Carolina Speedway was later sold at auction. These actions made SMI a significant participant in the competitive and legal debate over NASCAR race dates and track ownership. SMI purchased New Hampshire International Speedway in 2007 and renamed it New Hampshire Motor Speedway. It acquired Kentucky Speedway in 2008, and Kentucky eventually received a NASCAR Cup Series date in 2011. The Kentucky date was later removed from the schedule, with a race date returning to Atlanta Motor Speedway. SMI also pursued venue-management opportunities outside its core portfolio. In 2018 and again around 2020, it discussed cooperation with the operator of Nashville Fairgrounds Speedway and local authorities concerning renovations and possible NASCAR events. Separately, when NASCAR introduced national-series racing at Circuit of the Americas in 2021, SMI assumed management responsibilities for that race weekend. SMI's business has never been limited to tracks. Its Performance Racing Network distributes radio coverage of NASCAR races held at SMI venues and supports the company's media and advertising ecosystem. The company also owns U.S. Legend Cars International and has held interests in Motorsports Authentics, a licensing and merchandise joint venture with International Speedway Corporation. Other affiliated operations have included event services, racing clubs, venue hospitality, and racing-related commercial entities. In September 2019, after approximately 25 years as a listed company, SMI was taken private. It became a wholly owned subsidiary of Sonic Financial Corporation, which is owned by members of the Smith family. In November 2021, SMI agreed to acquire Dover Motorsports for cash, gaining control of Dover Motor Speedway and Nashville Superspeedway when the transaction closed in December. The acquisition reinforced SMI's position as one of the largest independent owners of NASCAR-related facilities in the United States. The supplied reference material further reports that SMI joined the ownership group of the CARS Tour in 2026.
- 2021
Dover Motorsports acquisition closes
[1]SMI completed the acquisition of Dover Motorsports, including Dover Motor Speedway and Nashville Superspeedway.
- 2019
Company taken private
[1]SMI ended its public-company status and became a wholly owned Sonic Financial subsidiary.
- 2008
Kentucky Speedway acquired
[1]SMI announced its purchase of Kentucky Speedway.
- 2007
New Hampshire Motor Speedway acquired
[1]SMI purchased New Hampshire International Speedway and renamed it New Hampshire Motor Speedway.
- 1999
Las Vegas Motor Speedway acquired
[1]SMI acquired Las Vegas Motor Speedway after competing against International Speedway Corporation.
- 1997
Texas Motor Speedway opens
[1]SMI completed construction of the large Texas Motor Speedway.
- 1996
Bristol and Sonoma join the portfolio
[1]SMI acquired Bristol Motor Speedway and Sonoma Raceway.
- 1995
Public-market debut
[1]The company completed its initial public offering and began trading on the New York Stock Exchange as SMI.
- 1994
Speedway Motorsports is incorporated
[1]Speedway Motorsports was formally incorporated in December.
- 1992
Charlotte adds night-racing capability
[1]Lighting was added to Charlotte Motor Speedway, allowing it to stage major races at night.
Products and positioning
A vertically integrated American motorsports platform combining large racing venues, NASCAR event promotion, media distribution, hospitality, sponsorship, and grassroots racing.
Venue operations · 1959
Racing facilities
SMI owns and manages large-scale racing venues used for NASCAR, IndyCar, NHRA, and other racing activities. The facilities generate revenue through ticketed events, corporate hospitality, sponsorship, concessions, advertising, venue rentals, and related fan experiences.
Motorsport events · 1995
NASCAR race weekends
The company's principal event business consists of promoting and operating NASCAR race weekends at its tracks. These events combine competition with entertainment programming, sponsor activations, hospitality, concessions, camping, and other venue services.
Motorsports media
Performance Racing Network
Performance Racing Network is SMI's racing-broadcasting operation. It distributes radio coverage and related content, particularly for NASCAR events staged at SMI-owned facilities, extending the company's relationship with fans beyond the physical venues.
Grassroots racing · 1992
U.S. Legend Cars International
U.S. Legend Cars International is associated with the Legends car format developed during Smith's expansion of Charlotte Motor Speedway. It supports a standardized, relatively compact racing category used in grassroots competition and driver development.
Licensed merchandise
Motorsports Authentics
Motorsports Authentics was formed as an equal joint venture between Speedway Motorsports and International Speedway Corporation to produce, market, and sell licensed motorsports merchandise.
Controversies
Marketing campaigns
- 2020Nashville Fairgrounds Speedway redevelopment effort
Nashville, United States
SMI and Bristol Motor Speedway pursued cooperation with the Nashville Fairgrounds operator and city officials to upgrade the venue and potentially restore national-series racing.
Outcome. The proposed 2022 races did not take place, although discussions continued.
- 1999Lowe's naming-rights partnership
United States
SMI sold naming rights for Charlotte Motor Speedway to Lowe's, creating a prominent commercial partnership around its flagship venue.
Outcome. The facility was commercially branded Lowe's Motor Speedway until the naming arrangement ended in 2009.
Brand decisions
2021
Acquire Dover MotorsportsM&ABackground
The acquisition offered SMI additional NASCAR facilities and expanded its presence in the Mid-Atlantic and Tennessee markets.
Action taken
SMI agreed to purchase Dover Motorsports and completed the transaction in December, gaining Dover Motor Speedway and Nashville Superspeedway.
Aftermath
Nashville Superspeedway returned to major NASCAR competition, while SMI's portfolio grew to include two additional facilities.
Approximate equity value. (2021 transaction announcement)
2019
Take the company privateM&ABackground
After approximately 25 years of public trading, the Smith family's financial group sought to consolidate ownership.
Action taken
Speedway Motorsports was taken private and became a wholly owned subsidiary of Sonic Financial Corporation.
Aftermath
The SMI ticker was retired, although the initialism remains in informal use.
2008
Acquire Kentucky SpeedwayM&ABackground
Kentucky Speedway had sought a NASCAR Cup Series race for several years.
Action taken
SMI acquired Kentucky Speedway and subsequently obtained a Cup Series event for the venue in 2011.
Aftermath
Kentucky later lost its Cup Series date, which returned to Atlanta Motor Speedway for the 2021 schedule.
2004
Close North Carolina Speedway and transfer its race dateStrategyBackground
Following the Ferko lawsuit, SMI obtained control of North Carolina Speedway and its associated NASCAR scheduling position.
Action taken
SMI closed the facility and moved its final race date to Texas Motor Speedway.
Aftermath
The track was later sold at auction and renamed Rockingham Speedway.
1999
Acquire Las Vegas Motor SpeedwayM&ABackground
SMI was competing with International Speedway Corporation for strategically important racing properties.
Action taken
SMI outbid ISC and acquired Las Vegas Motor Speedway.
Aftermath
The acquisition expanded SMI's presence in a major western U.S. market.
1996
Acquire North Wilkesboro Speedway interest and reposition race datesStrategyBackground
SMI sought to expand its venue portfolio and strengthen the NASCAR schedules of its newer facilities.
Action taken
SMI and Bob Bahre acquired interests in North Wilkesboro Speedway, and the track's race dates were subsequently moved to Texas Motor Speedway and New Hampshire.
Aftermath
The transaction became part of SMI's broader strategy of using track acquisitions and scheduling to develop major venues.
Recent events
- 2026
Speedway Motorsports participates in CARS Tour ownership[1]
M&A · Other
The supplied reference material states that SMI bought into the ownership group of the CARS Tour.
- 2021
Speedway Motorsports agrees to acquire Dover Motorsports[1]
M&A
SMI announced an agreement to purchase Dover Motorsports, adding Dover International Speedway and Nashville Superspeedway to its portfolio. The transaction closed in December 2021.
- 2021
Nashville Superspeedway returns to the NASCAR schedule[1]
Product launch · Other
Following SMI's acquisition of Dover Motorsports, Nashville Superspeedway reopened for major racing and hosted a NASCAR race weekend.
- 2020
Speedway Motorsports and Bristol pursue Nashville Fairgrounds Speedway cooperation[1]
Other
SMI and Bristol Motor Speedway renewed efforts to work with Nashville officials on upgrades and potential NASCAR events at Nashville Fairgrounds Speedway. The venue did not hold the proposed 2022 races, while discussions continued.
- 2019
Speedway Motorsports becomes a private company[1]
M&A · Other
After roughly 25 years of trading on the New York Stock Exchange, Speedway Motorsports was taken private and became a wholly owned subsidiary of Sonic Financial Corporation.
Sources1 sources
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