On Friday, NASCAR finalized a sale of part of the land that Auto Club Speedway in Fontana, Calif. currently occupies and a report from the Sports Business Journal says it sold for $544 million dollars.
The report, from the SBJ’s Adam Stern and David Broughton, states that NASCAR sold 433 acres of the 522 acres the facility occupies today.
That leaves 89 acres remaining for what is planned to be the home of a re-constructed, short-track oval built in the same space.
NASCAR has not formally confirmed that the previously-stated plans will come to fruition. Although, there has not been signs to deviate from those plans.
NASCAR retaining the 89 acres would also indicate its plans for at least something on the grounds.
For reference, Martinsville Speedway sits on 340 acres and Iowa Speedway, which now holds just a pair of IndyCar races during its season, takes up 226 acres.
The identity of the purchaser was not unveiled by the public documents the report sites.
Auto Club Speedway president Dave Allen said earlier this year that even with ‘the most aggressive timelines,’ any type of renovation project would not be completed in time to host a race in 2024.
NASCAR stated that it has plans to re-invest the $544 million in proceeds from the sale into the fan experience, track upgrades and schedule evolution, as well as paying off debt from its purchase of track operator ISC in 2019, according to sources.
This weekend’s racing will be the final time the 2.0 mile-configuration is used at Auto Club Speedway. The NASCAR Cup Series race is slated to be run on Sunday, February 26, beginning at 2:30 p.m. CT on FOX.
