Speedway Digest Staff
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Speedway Motorsports, LLC (“Speedway Motorsports”), a leading marketer, promoter and sponsor of motorsports entertainment, and Dover Motorsports, Inc. (NYSE: DVD) (“Dover Motorsports”) today announced that the companies have entered into a definitive agreement under which Speedway Motorsports has agreed to acquire Dover Motorsports for $3.61 per share in cash for an approximate total equity value of $131.5 million. The transaction was announced today by Speedway Motorsports President and CEO Marcus Smith and Dover Motorsports President and CEO Denis McGlynn.
Under the terms of the merger agreement, Speedway Motorsports, through a subsidiary, will initiate a tender offer to acquire all outstanding shares of Dover Motorsports. The offer price represents a 58.3% premium to the closing stock price on November 8, 2021. All Dover Motorsports stockholders will receive the same per share consideration in the transaction. The holders of approximately 57.5% of the total aggregate shares of Dover Motorsports, or 92% of the voting power, have agreed to tender their shares subject to the terms of a tender and support agreement.
“We’ve been committed to working for the fans and growing the sport of NASCAR for more than 60 years,” said Smith. “This is a tremendous opportunity for us to continue growing our investment in motorsports.
“I’d like to thank Denis McGlynn and the Dover Motorsports board for their cooperation and support in our goal to exceed customer expectations and create amazing lifetime experiences for all NASCAR fans.”
“While this marks the end of our 52 years as an independent operator in NASCAR,” said McGlynn, “our future advancement is best secured by joining forces with a major player in the sport and we are happy to be able to become part of the Speedway Motorsports family and to be able to work with Marcus Smith as NASCAR embraces its future.”
The closing of the tender offer will be subject to certain conditions, including the tender of shares representing at least a majority of the voting power of all outstanding shares of Dover Motorsports, receipt of applicable approvals and certain other conditions. Upon the successful completion of the tender offer, Speedway Motorsports’ acquisition subsidiary will be merged into Dover Motorsports, and any remaining shares of Dover Motorsports stock will be cancelled and converted into the right to receive the price per share payable in the tender offer.
The transaction has been approved by Speedway Motorsports. The Board of Directors of Dover Motorsports formed a special committee to review, evaluate and negotiate the definitive agreement. Acting upon the unanimous recommendation of the special committee, the Board of Directors of Dover Motorsports approved the transaction. The transaction is expected to close by the end of this calendar year.
Raymond James & Associates, Inc. is acting as financial advisor to Dover Motorsports and has rendered a fairness opinion to the board of directors of Dover Motorsports in connection with the transaction. Faegre Drinker Biddle & Reath LLP is acting as legal counsel to Dover Motorsports. Parker Poe Adams & Bernstein LLP is acting as legal counsel to Speedway Motorsports.
No further public comments from executives or officers of Speedway Motorsports and Dover Motorsports will be made until the transaction closes.
Erik Jones and the No. 43 Rellevate Chevrolet Camaro ZL1 1LE team finished in the 22nd-place in the NASCAR Cup Series (NCS) Championship at the Phoenix (Ariz.) Raceway on Sunday, November 7.
NASCAR utilized qualifying times to set the starting lineup for the NASCAR Cup Series Championship at the Phoenix Raceway in the eighth qualifying session of the season. It was the first time since June at Nashville (Tenn.) Superspeedway that a single-car qualifying session set the starting lineup for a race. Jones turned a lap of 26.722 seconds at 134.720 mph around the one-mile track, located in Avondale, Ariz., on Saturday, setting the 27th-fastest lap in qualifying. Jones started at the Phoenix Raceway in the NASCAR Cup Series season finale from the 27th-place on Row 14.
At the end of Stage 1 on Lap 75, Jones was scored in the 16th-place. By the end of Stage 2 on Lap 190, he was in the 19th-place. The 25-year-old Byron, Michigan, native was scored as high as the 10th-place at the Phoenix Raceway.
“It was a really solid day at the Martinsville Speedway for our No. 43 Goody’s Cool Orange Chevrolet Camaro ZL1 1LE. It was kind of an up-and-down day for our team. There were times where I really did not think we were going to have the finish (eighth-place) we did.
“It kind of worked-out at the end. We had a set of tires we put on, and the car came back around to us balance-wise, and we were able to come home with a top-10 finish. We have had a good couple of runs here the last month. Hopefully, we can go to Phoenix (Raceway) next week and finish it out on another good note.”
After poor weather conditions forced the postponement of Championship Friday during the 37th Running of the US Tank All American 400 Race Weekend in Memory of Jillian Brown, Nashville Fairgrounds Speedway officials rescheduled the Quarter Mile Championship event for Saturday, November 20th. The Saturday afternoon racing program will feature Limited Late Models, Street Stocks, Pure Stocks, Pest Doctor Front Runners, BH Holmes Construction Legends Cars, and Dye Hard Hair Salon Bandoleros.
Racing will begin at 2:00pm central time and pack six exciting features into one afternoon racing program. The grandstands open at 12:00pm, and the pit area opens at 9:30am. Adult tickets are just $10, senior citizens and military personnel tickets are only $5 and kids 12 and under are FREE. Tickets will be available at the gate on raceday.
The Limited Late Model feature race is set for 30-laps to decide the 2021 Nashville Fairgrounds Speedway Track Champion. Though six drivers are mathematically eligible to win the title, the spotlight is on the top three drivers, Kevin Rollins, Alan Carter, and Johnathan Dishman as they are separated by just 8 points. Alan Carter has two wins this season while Rollins and Dishman share a win apiece. A year ago, Dishman went into the final race P3 in the standings, 8 points behind, and came out the 2020 Track Champion.
Three thousand dollars are on the line to win the final BH Holmes Construction Legends race of the season, the Championship Race in Memory of Kevin Cordell features its own mega points battle. Boston Oliver leads the way by a single point over Oliver Cordell. Michael Crafton III, a rookie, sits in the third position in the standings just 3 points behind leader Boston Oliver. Crafton is the winningest Legends driver this season at NFS and could use those triumphs to his advantage in the event of a points tiebreak. Oliver Cordell will be competing with extra motivation as this 30-lap feature event is in memory of his father, a tremendous supporter of auto racing in Nashville, Kevin Cordell.
For a complete Schedule of Events and more information about the championship race event on Saturday, November 20th visit NFS online at nashvillefairgroundsspeedway.racing.
Nashville Fairground PR
Solid start opens door for Andrew Amos to win the 2021 South Boston Speedway Limited Sportsman Division Rookie of the Year title
One of the things Andrew Amos saw this season was how a good start can impact a driver’s season. A solid first half of the season propelled Amos into the top five in South Boston Speedway’s Limited Sportsman Division point standings, opening the door for him to capture the division’s Rookie of the Year title.
“It’s an accomplishment I’m proud of,” the Callands, Virginia resident said of winning Rookie of the Year honors at “America’s Hometown Track.” “I had never raced anything until I bought this car two years ago. I only got into a couple of races last year (2020) with the COVID-19 pandemic closing most places. When we came down here for the first two 25-lap races this year it was the first time I had been on South Boston Speedway.
“To be truthful, I really didn’t know what to expect,” added Amos. “I felt like we would be competitive, but to be as competitive as we have been here was a pleasant surprise.”
Amos had a solid season competing in South Boston Speedway’s highly competitive Limited Sportsman Division. He finished fifth overall in the division point standings and logged four Top-Five finishes and 10 Top-10 finishes in his 13 starts. His best effort was a pair of fourth-place finishes.
A good start to the season had a big impact on Amos’ success. After opening the season with a ninth-place finish Amos improved his finishes by one position in each of the next two races. He followed that by reeling off three Top-Five finishes in his next four starts, a result that vaulted him into the top five in the division point standings where he stayed the rest of the season.
“It has been a pretty good year,” Amos noted. “We came out of the box better than I thought we would. We slowly improved from there.
“We’ve been pretty competitive. Going up against all of the veteran guys in the division that have won a lot of races and being able run up there close to them is nothing to hang your head about when you’re a rookie. We don’t have race-winning speed yet, but I feel like we have top-five speed every week.”
The 2021 season was a big learning season for Amos.
“I’ve definitely learned a lot from racing these guys and talking with them on pit road,” Amos remarked. “There have been a few tough things to learn. It’s been hard to learn how to feel the car and figure out what we need to get faster. I’m trying to learn everything you need to know as a driver and about racing in traffic. I feel like I’m getting better at that.”
Amos likes the atmosphere at South Boston Speedway and how competing drivers were helpful in answering questions he had.
“This is a really good racing atmosphere,” Amos pointed out. “It’s very friendly, but it’s also very competitive. Everybody here is helpful and will give you a lot of help. I’ve leaned on Jason Myers a lot for help this year. I’ve gotten some help from some guys like Eric Winslow and Danny Willis Jr. also. They’re a tremendous help. They have a lot of years of experience, really know what they’re doing and what to look for when they’re on the track.”
Amos said the 2021 season at South Boston Speedway was enjoyable.
“I’ve definitely had a fun year,” Amos said. “I haven’t torn the car up too badly or made too many rookie mistakes. You always hope for a win, and I haven’t gotten one of those yet. Hopefully it will come soon.”
If everything goes according to plan, Amos says he will return to South Boston Speedway for another year of competition in the Limited Sportsman Division.
“We can go into next year feeling better and knowing more of what to expect,” explained Amos. “We started this year with a lot of unknowns and a lot of new territory. We hope to really improve next year and get into Victory Lane. We will have a full year of notes and I will have a whole season of experience. Hopefully we can top that big hill and get into Victory Lane.”
The 2022 season will be a special one as South Boston Speedway will celebrate its 65th anniversary with a tentative 14-event schedule that includes a first-ever event for “America’s Hometown Track.”
South Boston Speedway will open its 2022 season on Saturday, March 19 featuring the track’s four regular racing divisions, the Advance Auto Parts Weekly Series Late Model Stock Car Division, the Limited Sportsman Division, the Budweiser Pure Stock Division and the Budweiser Hornets Division.
Special events on the tentative 2022 season schedule include an event on April 2 for the SMART Modified Tour and the Sentara Healthcare American Sprint Car Weekend on April 29-30 featuring the first-ever races for 410-winged sprint cars at South Boston Speedway.
The track’s premier 200-lap Late Model Stock Car race on July 2, the official celebration of the track’s 65th anniversary on August 6, and an event for the Solid Rock Carriers CARS Tour on October 22 featuring the series’ Late Model Stock Car and new Pro Late Model divisions are also among the special highlight events for the 2022 season.
The tentative 2022 South Boston Speedway schedule can be found on the speedway’s website, www.southbostonspeedway.com.
The latest news and information about South Boston Speedway can be found on the South Boston Speedway website and through the speedway’s social media channels.
In the final race of the 2021 season Sunday at Phoenix Raceway, Chris Buescher drove his Fastenal Ford Mustang to a 25th-place finish.
A rare qualifying session Saturday afternoon put Buescher 26th on the speed charts for Sunday’s 312-lap race. Despite a decent amount of cautions throughout the afternoon, they mostly fell at inopportune times for Buescher, who was unable to battle back from going a lap down early.
He would finish the opening 75-lap stage in 25th as the team worked on his handling in the No. 17 Ford. Buescher went on to finish 25th for stage two, a segment where he was able to get the free pass and get back to one lap down.
He was in the same position late for the free pass, but a cycle of green-flag stops began just laps before a caution flag, ultimately trapping him laps down again with others receiving the free pass. The race’s final restart came with 24 to go as Buescher finished the afternoon 25th.
In his final race behind the wheel of the No. 6 Ford Mustang for Roush Fenway Racing, Ryan Newman finished 23rd in the 2021 NASCAR Cup Series season finale.
Sunday marked the 20-year veteran’s 725th Cup start – a feat only 14 others in history have accomplished. After a qualifying effort of 19th on Saturday, Newman fired off for the 312-lap race from that position.
Stage one saw a pair of early cautions with the South Bend, Indiana, native around 20th, before going on to finish the first stage in 22nd. A good stop on pit road put him 17th on the restart for a stage that was halted three times.
He hovered around the same position throughout the 115-lap stage, ultimately ending it in 20th. A green-flag pit cycle that began just prior to lap 250 put Newman on the plus side of track position as a caution came out, giving him a restart inside the top-20. The final yellow would fly at lap 282 with a 24-lap shootout to the end where he would finish 23rd.
Matt DiBenedetto and the No. 21 Motorcraft/Quick Lane team closed out the 2021 season with a 12th-place finish in the NASCAR Cup Series Championship at Phoenix Raceway. That finish pushed them up one spot to 18th in the final Cup Series standings. The difference in 18th place and 19th was just four points.
DiBenedetto started Sunday’s 312-lap race from 15th place and cracked the top 10 after just 15 circuits. He ran in or around the top 10 for the remainder of the first Stage, ending that 76-lap segment in 10th place and earning one point.
The second Stage saw the Motorcraft/Quick Lane Mustang run in the top 10, and as high as sixth place, for much of that run. But a loss of positions on a restart at Lap 162 led to a 13th-place finish in Stage 2.
The team continued to show speed in the final Stage, but damage due to contact from another car hampered the effort. Still, DiBenedetto was able to drive up from 17th place to 12th over the final 60 laps.
The team closed out the season with three top-five, nine top-10 and 19 top-15 finishes. The No. 21 Mustang was running at the finish of all but two of 36 races.
Eddie Wood said he was proud of his team’s efforts, both in the finale at Phoenix and in the season as a whole.
“We’d like to thank Matt for what he did for us, as well as [crew chief] Jonathan Hassler and the rest of the 21 team,” Wood said. “We also appreciate all the support we’ve gotten from our friends at Ford Motor Company, our sponsors and affiliates, and especially the fans that have supported us week-in and week-out.
“And, finally, on behalf of the Wood family and our entire race team, we sincerely wish everyone a happy and safe offseason, and we’ll be back on track February 6 for The Clash at the LA Coliseum.”
Voting for the 2021 National Motorsports Press Association (NMPA) Most Popular Driver Award presented by Hooters opens on Tuesday, November 9, at noon ET.
Fans can cast a vote for a single driver once daily at www.nascar.com/mostpopulardriver or on the NASCAR Mobile app. Votes shared by fans on Facebook and/or Twitter count double.
To be eligible, drivers must have declared for series points and be in the Top-32 in NASCAR Cup Series points by the start of the voting.
Voting closes for the NMPA Most Popular Driver Award on Wednesday, December 1, at noon ET.
The 2021 NMPA Most Popular Driver will be announced during the NASCAR Cup Series Awards program on Thursday, December 2. NBCSN, MRN and SiriusXM will provide coverage of this year’s program.
The award was first presented to Curtis Turner in 1949 at the completion of NASCAR’s inaugural season. It has been administered by the NMPA and presented annually by the organization since 1983 and remains the only major NASCAR award determined solely by fan vote.
Twenty drivers have received the award at least once since the program began. NMPA Hall of Fame member and 1988 Cup Series champion Bill Elliott holds the record for most popular driver award wins with 16—1984-1988, 1991-2000 and 2002. Dale Earnhardt Jr., elected to the NMPA Hall of Fame as a member of the Class of 2020, won the award 15 consecutive seasons from 2003-2017.
Chase Elliott, son of Bill Elliott and driver of the No. 9 Hendrick Motorsports Chevrolet, has received the honor for the past three years.
"Thanks to the fans throughout this year," Elliott during the 2020 awards show at the end of a year in which the coronavirus pandemic severely limited fans’ ability to attend races. "I know it hasn't been the most normal thing ever, but you guys are awesome, and I hope you enjoyed what the season had to offer.”
Formed in 1965, The National Motorsports Press Association consists of qualified members of the media who report on the sport of auto racing through affiliations with print, radio, television and/or Internet news-gathering organizations. In addition to the NMPA Most Popular Driver Award, the
NMPA presents an array of significant honors in auto racing, including The Richard Petty Driver of the Year Award, The Myers Brothers Award, the NMPA Pocono Spirit Award and the Wood Brothers Award of Excellence.
Additional information about the NMPA can be found at nmpaonline.com.