CONCORD, N.C.--(BUSINESS WIRE)--Dec. 8, 2005--Speedway
Motorsports, Inc. (NYSE: TRK) ("SMI") reacted positively to the
details of NASCAR's new eight year, approximately $4.48 billion
television package that was announced Wednesday. The agreements run
from 2007 through 2014 and provide for the broadcast rights of 36
NEXTEL Cup races and the Busch and Craftsman Truck series events. We
understand Fox, ABC/ESPN, TNT and SPEED Channel will carry the events
for an average annual rights fee of approximately $560 million - a 40%
increase over the current average. The remaining details about the
transaction are still under negotiation.
"I am excited to see the 40% increase that comes with this new TV
deal," said SMI Chairman and CEO Bruton Smith. "In an era where
ratings are decreasing for most major league sports and competition is
fierce for viewers, this shows the strong and growing value of
"This is a positive development for our company and our industry.
The 40% increase is a signal that our sport continues to grow.
Increased broadcast exposure will increase our marketing opportunities
and help us win more fans," said SMI president and chief operating
officer H.A. "Humpy" Wheeler. "I'm real happy with the increase of 40%
over the current broadcast contracts. A large percentage of our
revenues through 2014 will be already contracted. Racing fans will be
able to see two thirds of NEXTEL Cup series events on network
television with the remaining events on cable. The Busch and Truck
series events gain additional exposure as well. Overall, this deal
underscores the expanding popularity of the sport."
The NASCAR NEXTEL Cup Series events broadcast by FOX, ABC, ESPN,
TNT and SPEED Channel will include: the Coca-Cola 600 at Lowe's Motor
Speedway on May 28 and 12 additional points events (FOX); six
consecutive races in June and July (TNT); and the final 17 events (ABC
and ESPN), with all 10 races in the Chase for the NASCAR NEXTEL Cup to
be aired on ABC.
ABC, ESPN and ESPN2 will broadcast the NASCAR Busch Series (no
less than four events on ABC). SPEED Channel will continue to telecast
NASCAR Craftsman Truck Series with the exception of two races, which
will be shown by FOX.
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 and Texas Motor Speedway. The Company provides
souvenir merchandising services through its SMI Properties
subsidiaries and Motorsports Authentics joint venture, and
manufactures and distributes smaller-scale, modified racing cars
through its 600 Racing subsidiary. The Company also owns Performance
Racing Network which broadcasts syndicated motorsports programming to
over 710 radio stations nationwide. For more information, visit the
Company's website at www.gospeedway.com.
CONTACT: Speedway Motorsports, Inc.
Lauri Wilks, 704-455-3239
SOURCE: Speedway Motorsports, Inc.