|
|
Article: Speedway Motorsports Announces Details of Sears Point Raceway Acquisition
- Article from:
- PR Newswire
- Article date:
- November 20, 1996
CopyrightCOPYRIGHT 1996 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
CONCORD, N.C., Nov. 20 /PRNewswire/ -- Speedway Motorsports (NYSE: TRK) successfully closed its purchase of Sears Point Raceway, a multi-use Motorsports complex located in Sonoma, Calif.
In a transaction which closed November 18, 1996, Speedway Motorsports purchased certain assets including vehicles, equipment, machinery, furnishings, leases, contract rights, good will, and accounts receivable and executed a long-term lease for real property, including 800 acres of land and the permanent structures thereon. Speedway Motorsports has the option to purchase the real property after three years for $38.1 million, subject to acceleration at the option of the ...