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NASCAR buys Iowa Speedway east of Des Moines

Published on NewsOK Modified: November 27, 2013 at 6:28 pm •  Published: November 27, 2013

NEWTON, Iowa (AP) — NASCAR has bought the Iowa Speedway.

But that doesn't mean that the track will be hosting a Sprint Cup any time soon — if ever.

NASCAR announced Wednesday that it had finalized the purchase the seven-year-old track. It's a move NASCAR said solidifies the future of the 0.875-mile tri-oval track in Newton. A purchase price wasn't disclosed.

Featherlite Inc. founder Conrad Clement and his family purchased the track — which with temporary seating has held up to 60,000 fans for NASCAR Nationwide events — in 2011.

NASCAR will be the Iowa Speedway's third owner since it opened in 2006.

"Iowa Speedway is a great entertainment facility with a very bright future," said Eric Nyquist, NASCAR's vice president of strategic development. "The facility has the support of the region, it's positioned well in the heart of the Midwest, and year in and year out it provides great short-track racing action for motorsports fans.

"NASCAR ownership will allow us to draw on the entire resources of our company. It also provides us with the opportunity to execute first-hand a number of entertainment ideas and engagement opportunities with fans."

There has long been hope among racing fans that the Iowa Speedway — long a favorite of drivers for its bullring setup — might someday land a Cup event because of its success hosting Nationwide, Camping World Truck series and IndyCar races.

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