Dover Motorsports Subsidiary Assigns Rights to Grand Prix of Denver to Open Wheel Racing Series, LLC - aftermarketNews

Dover Motorsports Subsidiary Assigns Rights to Grand Prix of Denver to Open Wheel Racing Series, LLC

Dover Motorsports and its wholly owned subsidiary, Grand Prix Association of Long Beach, has reached an agreement with CART successor and owner of the Champ Car World Series, Open Wheel Racing Series, LLC (OWRS) to transfer to certain OWRS assets and rights that Grand Prix has relative to the organization and promotion of the Grand Prix of Denver, subject to certain conditions and approvals.

DOVER, DE — Dover Motorsports and its wholly owned subsidiary, Grand Prix Association of Long Beach, has reached an agreement with CART successor and owner of the Champ Car World Series, Open Wheel Racing Series, LLC (OWRS) to transfer to certain OWRS assets and rights that Grand Prix has relative to the organization and promotion of the Grand Prix of Denver, subject to certain conditions and approvals.

Grand Prix has a multi-year agreement with the City of Denver pursuant to which it is entitled to stage an annual auto racing event in and around the PepsiCenter in Denver. Grand Prix has assigned to OWRS its rights in its agreement with the city, subject to the consent of the city. Economic terms were not disclosed.

Dover Motorsports subsidiaries operate five motorsports tracks (four permanent facilities and one temporary circuit) in four states and promote motorsports events under the auspices of four of the premier sanctioning bodies in motorsports – NASCAR, IRL, CART and NHRA.

For more information on Dover Motorsports, go to: http://www.dovermotorsportsinc.com.

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