Developers seek approval for Nashville Superspeedway upgrade
Oct. 20, 2017
GLADEVILLE, Tenn. (AP) — Developers are seeking approval for adjustments to plans to upgrade the site of the Nashville Superspeedway.
The Tennessean reports that the Wilson County planning commission is scheduled to take up the proposal from Panattoni Development Co. on Friday. The company agreed to buy the 1.6-square mile (4-square kilometer) property from Dover Motorsports last year.
Panattoni's conceptual plan shows eight buildings on the property with no alterations to the track itself. The track opened in 2001, but fizzled when it failed to attract NASCAR racing.
Dover Motorsports said at the time that Panattoni agreed to buy the track and other assets for $27 million and to assume $17 million in outstanding bond obligations. But a recent Securities and Exchange Commission filing says the two companies are working on a "restructured transaction."