CONCORD, N.C.--(BUSINESS WIRE)--May 28, 2008--Speedway
Motorsports, Inc. (NYSE:TRK) has named Marcus Smith chief operating
officer and president of the company, as well as president and general
manager of Lowe's Motor Speedway.
The promotions were announced today following approval by the
Speedway Motorsports board of directors.
"Marcus has been training for this opportunity throughout his
professional career," said Bruton Smith, chairman and chief executive
officer of Speedway Motorsports. "He's come up through the ranks at
Charlotte, proven his business savvy with our most recognizable
sponsors and handled our sanction negotiations with NASCAR.
"But the thing that's made Marcus a success and will continue to
do so, is that in his heart, he's a race fan," Smith added. "He never
loses sight of the fact that our customers are the key to everything
we do and he always wants to put our fans first."
Since 2004, Marcus Smith has served as a director and executive
vice president of national sales and marketing for Speedway
Motorsports, working on behalf of all 10 motorsports-related operating
units of the company, including seven speedways, Performance Racing
Network, SMI Properties and 600 Racing.
The 35-year-old Smith has spent most of his life around the
speedway business and from junior high school spent his summers
working at Lowe's Motor Speedway. After graduating with a Bachelor of
Arts degree in advertising from the University of North Carolina at
Chapel Hill, Smith joined the speedway's corporate sales department as
a marketing assistant and was promoted to account executive in 1996.
He was promoted to manager of new business development for SMI in
1998. In that role, he negotiated the first naming-rights agreement
for a NASCAR speedway as Charlotte Motor Speedway partnered with
Lowe's Companies, Inc.
"This sport is in my blood," said Marcus Smith. "I'm going to
bring the same passion to work each day that the race fans bring to
the track every week. I'm competitive, and I want to be sure we're
doing everything we can to provide a fantastic motorsports experience
to our fans."
"We've got the best management team in all of sports, and I look
forward to working closely with them as we move forward," Marcus Smith
added. "We've got a lot more to accomplish this year, and 2009 will be
even better as we celebrate the 50th running of the Coca-Cola 600 at
Lowe's Motor Speedway."
About Speedway Motorsports, Inc.
Speedway Motorsports is a leading marketer and promoter of
motorsports entertainment in the United States. The Company owns and
operates the following premier facilities: Atlanta Motor Speedway,
Bristol Motor Speedway, Infineon Raceway, Las Vegas Motor Speedway,
Lowe's Motor Speedway, New Hampshire Motor Speedway and Texas Motor
Speedway. The Company provides souvenir merchandising services through
its SMI Properties subsidiaries; manufactures and distributes
smaller-scale, modified racing cars and parts through its 600 Racing
subsidiary; and produces and broadcasts syndicated motorsports
programming to radio stations nationwide through its Performance
Racing Network subsidiary. The Company also equally-owns Motorsports
Authentics, a joint venture formed with International Speedway
Corporation to produce, market and sell licensed motorsports
merchandise. For more information, visit the Company's website at
This news release contains forward-looking statements,
particularly statements with regard to the Company's future operations
and financial results. There are many factors that affect future
events and trends of the Company's business including, but not limited
to, consumer and corporate spending sentiment; air travel;
governmental regulations; military actions; national or local
catastrophic events; the success of and weather surrounding NASCAR,
IRL, NHRA and other racing events; our relationship with NASCAR and
other sanctioning bodies; the success of expense reduction efforts;
capital projects; expansion; economic conditions; stock repurchases;
financing needs; insurance; litigation; taxes; oil and gas activities
and associated profitability; geopolitical situations in foreign
countries; and other factors outside of management control. These
factors and other factors, including those contained in the Company's
Annual Report on Form 10-K and subsequently filed Quarterly Reports on
Form 10-Q, involve certain risks and uncertainties that could cause
actual results or events to differ materially from management's views
and expectations. Inclusion of any information or statement in this
news release does not necessarily imply that such information or
statement is material. The Company does not undertake any obligation
to release publicly revised or updated forward-looking information,
and such information included in this news release is based on
information currently available and may not be reliable after this
CONTACT: For Speedway Motorsports, Inc.
Scott Cooper, 704-455-3209
SOURCE: Speedway Motorsports, Inc.