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
The proper isolation of resources is essential for multi-tenant environments. The traditional approach to isolate resources is, however, rather heavyweight. In his session at 18th Cloud Expo, Igor Drobiazko, co-founder of elastic.io, will draw upon their own experience with operating a Docker container-based infrastructure on a large scale and present a lightweight solution for resource isolation using microservices. He will also discuss the implementation of microservices in data and applicat...
Join IBM June 8 at 18th Cloud Expo at the Javits Center in New York City, NY, and learn how to innovate like a startup and scale for the enterprise. You need to deliver quality applications faster and cheaper, attract and retain customers with an engaging experience across devices, and seamlessly integrate your enterprise systems. And you can't take 12 months to do it.
See storage differently! Storage performance problems have only gotten worse and harder to solve as applications have become largely virtualized and moved to a cloud-based infrastructure. Storage performance in a virtualized environment is not just about IOPS, it is about how well that potential performance is guaranteed to individual VMs for these apps as the number of VMs keep going up real time. In his session at 18th Cloud Expo, Dhiraj Sehgal, in product and marketing at Tintri, will discu...
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, will discuss how research has demonstrated the value of Machine Learning in delivering next generation analytics to im...
This is not a small hotel event. It is also not a big vendor party where politicians and entertainers are more important than real content. This is Cloud Expo, the world's longest-running conference and exhibition focused on Cloud Computing and all that it entails. If you want serious presentations and valuable insight about Cloud Computing for three straight days, then register now for Cloud Expo.
As you respond to increasing requests for new analytics, you need fast and flexible technology in your arsenal so that you can deploy the right workload to the right platform for the need at hand. Do you need self-service and fast time to value? Do you have data and application control and privacy needs, along with strict SLAs to meet? IBM dashDB™ is data warehouse technology powered by in-memory computing and in-database analytics that are designed for fast results, scalability and more.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...
IoT device adoption is growing at staggering rates, and with it comes opportunity for developers to meet consumer demand for an ever more connected world. Wireless communication is the key part of the encompassing components of any IoT device. Wireless connectivity enhances the device utility at the expense of ease of use and deployment challenges. Since connectivity is fundamental for IoT device development, engineers must understand how to overcome the hurdles inherent in incorporating multipl...
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, will explain how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
The paradigm has shifted. A Gartner survey shows that 43% of organizations are using or plan to implement the Internet of Things in 2016. However, not just a handful of companies are still using the old-style ad-hoc trial-and-error ways, unaware of the critical barriers, paint points, traps, and hidden roadblocks. How can you become a winner? In his session at @ThingsExpo, Tony Shan will present a methodical approach to guide the holistic adoption and enablement of IoT implementations. This ov...
In his session at 18th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., will focus on real world deployments of DDoS mitigation strategies in every layer of the network. He will give an overview of methods to prevent these attacks and best practices on how to provide protection in complex cloud platforms. He will also outline what we have found in our experience managing and running thousands of Linux and Unix managed service platforms and what specifically c...