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NASCAR purchases Iowa Speedway

NASCAR announced today that it has purchased Iowa Speedway, the .875-mile short track in Newton, Iowa, a city about 30 miles east of the state capital of Des Moines.

In a release announcing the deal, NASCAR called the purchase "a strategic move designed to expand its commitment to enhancing event experiences and fan engagement, as well as solidify the future of one of the premier racing and entertainment facilities in the Midwest."

"Iowa Speedway is a great entertainment facility with a very bright future," said Eric Nyquist, NASCAR vice president, 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 -- much of which we have outlined repeatedly as the core of our Industry Action Plan."

The track opened in 2006 and NASCAR has run NASCAR Nationwide Series and NASCAR Camping World Truck Series at Iowa Speedway since 2009. In 2014, it is scheduled to host three weekends, one each in May, July and August. The schedule will include two NASCAR Nationwide Series races, a combination NASCAR Camping World Truck Series and IndyCar Series weekend, plus two additional NASCAR K&N Pro Series support races.

NASCAR said it has no plans for Iowa Speedway to host a NASCAR Sprint Cup Series race next year or in the immediate future.