Welcome!

News Feed Item

NeXovation, Inc. Announces Agreement to Acquire Nashville Superspeedway from Dover Motorsports, Inc.

Nearly three years after reducing its public access and closing to competitive racing, the Nashville Superspeedway motor racing complex will have a new owner. U.S.-based NeXovation, Inc., a global innovation company and active pursuant (highest bidder) for the iconic Nürburgring motor sports facility in Germany, announced today that it has entered into a definitive agreement to acquire the Nashville Superspeedway in Lebanon, Tenn., from Dover Motorsports, Inc. (NYSE: DVD).

Under the terms of the agreement, NeXovation will acquire the Nashville Superspeedway facility along with some related equipment and assets for $27 million in cash from Dover Motorsports and its wholly-owned subsidiary, Nashville Speedway U.S.A., Inc. Closing is expected to take place in the third quarter of 2014 and is subject to customary closing conditions.

“With our unique business model, passion for automotive technology and motor sports, and a tremendous market right in our own backyard, the Nashville Superspeedway is the perfect complement to our innovative and technological focus,” said Robert Sexton, CEO of NeXovation. “After creating and developing this opportunity within NeXovation for nearly two years, we are excited about implementing a completely new business model that we believe will transform this complex into a fully immersive experience in the world of high performance motor sport, automotive technology, and experiential venues.”

Nashville Superspeedway first opened in 2001 and is situated on almost 1,400 acres of land just outside of Nashville, Tenn. The 1.33-mile concrete superspeedway has a permanent seating capacity of 25,000 as well as lighting for nighttime events. Sexton confirms that NeXovation, a Nashville-based company, is committed to sustaining and enhancing the world-class facility built by Dover Motorsports as an important part of the Nashville and Middle Tennessee communities into the future. This desire to protect and improve “iconic” motor sports facilities with a new, innovative, cooperative business model was the basis for the company’s bid for the Nürburgring in Germany and its purchase of the Nashville Superspeedway.

NeXovation, Inc. was founded in 2012 to provide a platform for several innovations, including Sexton’s inventions, such as the patented FlatWire™ technology (now the company’s NeXwire Division), which is a high-performance, surface-mounted wiring technology designed for the automotive, building, aerospace and military industries; and multiple patent-pending compressed natural gas (CNG)-based technologies (part of the company’s NeXomotive Division). The company is comprised of a team of entrepreneurs and executives who represent hundreds of global patents and years of combined product development, marketing, and business management experience throughout the world. Most recently, NeXovation submitted a binding offer of EUR 150 million plus future incentives to acquire all assets of the Nürburgring motor sports facility in Germany, which would be complementary to the Nashville Superspeedway project.

Details of NeXovation’s future plans for the Nashville Superspeedway and Nürburgring are currently proprietary but will be announced to the public in the near future. For more information on NeXovation, visit www.NeXovation.com.

About NeXovation, Inc.

NeXovation is a global, multi-industry, innovation company committed to the belief that a thoughtful and dedicated choice of priorities, regarding our world, communities, families, and each other, creates the potential for greatness, growth, joy and profit. Following these principles, NeXovation has brought together a unique team of experts and highly experienced professionals to make its dreams become reality.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Qosmos has announced new milestones in the detection of encrypted traffic and in protocol signature coverage. Qosmos latest software can accurately classify traffic encrypted with SSL/TLS (e.g., Google, Facebook, WhatsApp), P2P traffic (e.g., BitTorrent, MuTorrent, Vuze), and Skype, while preserving the privacy of communication content. These new classification techniques mean that traffic optimization, policy enforcement, and user experience are largely unaffected by encryption. In respect wit...
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, wil...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Enterprises have forever faced challenges surrounding the sharing of their intellectual property. Emerging cloud adoption has made it more compelling for enterprises to digitize their content, making them available over a wide variety of devices across the Internet. In his session at 19th Cloud Expo, Santosh Ahuja, Director of Architecture at Impiger Technologies, will introduce various mechanisms provided by cloud service providers today to manage and share digital content in a secure manner....
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.