New Owner Developing Plans to Broaden Appeal to Motorsports Enthusiasts FOUNTAIN, Colo., July 28 /PRNewswire-FirstCall/ -- A private company, consisting of motorsports enthusiasts and businessmen, today announced its acquisition of Pikes Peak International Raceway (PPIR) from International Speedway Corporation (Nasdaq/NM: ISCA; OTC Bulletin Board: ISCB) ("ISC"). The transaction was completed on June 27. The new owner, Pikes Peak International Raceway, LLC, maintains the name for the track facility, which holds great value with drivers and fans across the country. The company plans to inject the necessary capital to expand the facility's offerings, and says it will creatively collaborate with motorsports organizations, corporate interests and the entertainment and hospitality industries, in an effort to diversify the offerings at PPIR and return to Colorado the vibrancy once associated with the raceway south of Colorado Springs. The combination of the one-mile oval and 1.3-mile road course provides an immediate venue for motorsports participant events. Approximately 10,000 grandstand seats will remain to accommodate spectators. The entire facility sits on a 1,200-acre parcel of land, with ample room for additional high performance road courses, test tracks, automobile storage and maintenance, as well as general commercial real estate development, giving the new owner opportunities to work with other interests that serve motorsports enthusiasts. "Our vision is to create a destination that fully encompasses all aspects that appeal to the motorsports industry, including participant-based events, driving experiences, corporate entertainment, testing and retail," said John H. Molloy, CEO, Pikes Peak International Raceway, LLC. "PPIR is a unique facility, and it provides an excellent platform for further expansion and development," he said. Specific plans for PPIR and a timeline for its formal re-opening are now in development, although the roar of engines is expected to heat the once-popular track very soon, as the new owner prepares the raceway for initial rental and events. The original raceway opened in 1997, and hosted a regular schedule of world class racing events. It remains in excellent condition. International Speedway Corporation purchased the facility in September 2005 and shortly thereafter closed PPIR, after moving its NASCAR races to other ISC facilities. DATASOURCE: Pikes Peak International Raceway, LLC CONTACT: Vincent Salas of Salas PR, for Pikes Peak International Raceway, LLC, +1-512-750-2816,

Copyright