- Gentlemen, start your drones: Judge’s ruling opens door for commercial use
- Soldier who hid, bragged about not saluting flag to be punished — in secret
- ‘Maverick’ of the seas: ‘Top Gun’ school for U.S. ship officers to launch
- Putin declares Sochi Paralympics open amid Ukrainian protest
- ‘In Jesus name, we pray’ sparks ire at Ohio council meeting
- Navy’s first laser weapon ready for prime time; drone killer to deploy this summer
- Billionaire backer: Rick Santorum ‘needs to be heard’ in 2016
- Obamacare fallout: 49 percent pessimistic; 45 percent ‘scared’
- DHS accused of holding U.S. citizen at airport, using emails to pry into her sex life
- Seattle socialist: Minimum-wage discussion skewed by ‘right-wing’ GAO analysis
Iowa Speedway sold to Clement family
Officials announced Tuesday that the Clement family had bought the holding company that owns the five-year-old track, U.S. Motorsports Corp., from the Manatt family effective June 30. Terms were not disclosed.
The Manatts, who own a Brooklyn, Iowa-based construction company, have been the primary investors since the track was built in 2006 but had always intended to transfer controlling interest within five years.
Track officials said Rusty Wallace will remain a minority owner and that no staff changes are planned.
Featherlite, which was founded in 1973 and has been based in Cresco, Iowa, since 1979, makes aluminum trailers. The company employs about 400 people, according to its website, and makes transports for a number of NASCAR teams.
“It was our privilege to help build the track five years ago, and like a proud parent, we’ve enjoyed watching it thrive and grow,” said Brad Manatt, the company’s president said in a statement.
The 0.875-mile track has been a hit with fans in Iowa since it opened.
This year, Iowa has four major events on the schedule, including last month’s IndyCar race, two NASCAR Nationwide events and a NASCAR trucks series event on July 16.
IndyCar CEO Randy Bernard also said last week that he’s spoken with track president Jerry Jauron about hosting a doubleheader at Iowa in 2012.
“The Clement family has expressed their willingness to invest in the track, its infrastructure and its future,” Wallace said. “Together, we can establish Iowa Speedway as one of the Midwest’s premier entertainment venues and achieve our ultimate goal _ hosting a NASCAR Sprint Cup race.”
Taxpayers must pay the freight for over-budget train projects
- Kim Jong-un calls for execution of 33 Christians
- Rand Paul wins 2014 CPAC straw poll, Ted Cruz finishes a distant second
- SAUERBREY: Taxing Marylanders until they flee
- 'Blarney Blowout' near UMass results in 73 arrests; 4 officers injured
- Bill Clinton cashes in on struggling nonprofit hospital
- Bill Clinton poses for photo with Bunny Ranch prostitutes
- Vietnam says it may have found door of missing Malaysian jet as intel look into stolen passports
- U.S. pilot scares off Iranians with 'Top Gun'-worthy stunt: 'You really ought to go home'
- CPAC 2014 straw poll results
- Obama engages in Ukraine diplomacy from Fla. resort as Russia digs in
Pope Francis meets his 'mini-me'
Celebrity deaths in 2014
Winter storm hits states — again