Kentucky Speedway

Kentucky Speedway sells for $78.3 million

SPARTA — Speedway Motorsports Inc. has completed its purchase of Kentucky Speedway, clearing the way for SMI owner e_SDHpBruton Smith to try to bring a NASCAR Sprint Cup race to the 1.5-mile tri-oval in northern Kentucky.

The deal was finalized Wednesday, more than seven months after SMI agreed to buy the track from the speedway ownership group led by Jerry Carroll.

The track joins a growing portfolio for SMI, which owns seven other facilities, including Lowe's Motor Speedway.

According to papers filed with the Securities and Exchange Commission, Smith agreed to pay $78.3 million for the speedway that cost $152 million to build.

The former ownership group filed an antitrust lawsuit in 2005 against NASCAR and International Speedway, alleging they worked together to create an unfair monopoly and prevent Kentucky from securing a Cup race. The case was dismissed earlier this year.

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