UPDATED: MEMPHIS MOTORSPORTS PARK CLOSES

UPDATED, 3:07 PM, EST

The NHRA confirmed their 24-race Full Throttle schedule will be reduced to 23 in 2010.

"On behalf of all NHRA racers, fans and sponsors, we are very disappointed to learn about Dover Motorsports Inc.’s decision to close Memphis Motorsports Park," NHRA said in a prepared statement. "We had been in discussions with the management team at Dover Motorsports regarding the track’s future in recent weeks and were aware that this action was a possibility. We appreciate the great support we received from the fans throughout the western Tennessee region as well as the cooperation from all those who worked at the facility.

"We look forward to continuing our relationship with the Dover Motorsports group and conducting the national event at Gateway International Raceway at St. Louis.   At this time, the NHRA Full Throttle Drag Racing Series schedule for 2010 will be reduced to 23 events."

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CompetitionPlus.com has confirmed the oval track at Memphis Motorsports Park has released their Vice President and General Manager Jason Rittenberry today and will shut down operations. The status of the NHRA Midsouth Nationals scheduled for August 2010 remains unclear.

In a prepared statement, Dover Motorsports, Inc. (NYSE-Symbol: DVD) announced that it was ceasing all operations at Memphis Motorsports Park and that it would not be promoting any events in Memphis in 2010. The oval track events have been transferred to Gateway International Raceway, another Dover-owned property.

The move doesn't mean GIR will assume the Memphis date on the NHRA schedule.

"As of right now, the future of the NHRA National event date at Memphis Motorsports Park has not been determined," said Brandon Mudd, GIR spokesperson. "While we at Gateway International Raceway would be honored to host a second date, no plans are currently being made to do so."
 
As previously announced, the Memphis facility had been under an agreement of sale to Gulf Coast Entertainment but Gulf Coast was unable to secure financing.
 
"This was a difficult decision for us, but one that ultimately was dictated by economics," said Denis McGlynn, President and CEO of Dover Motorsports.  "We greatly appreciate the many years of dedication shown by our Memphis employees and their efforts to make Memphis such a great destination for the racing community - from racing fans and drivers to sponsors, team owners and sanctioning bodies.  For all concerned, including the Memphis community, it is truly sad to see Memphis Motorsports Park taken off the racing schedule.  NASCAR has approved the realignment of our NASCAR Camping World Truck Series and NASCAR Nationwide Series events from Memphis Motorsports Park to our Nashville and Gateway facilities."
 
The realigned events and dates are as follows:
 
NASCAR Camping World Truck Series
Nashville Superspeedway
April 2, 2010
(together with NASCAR Nationwide Series event on April 3, 2010)
 
NASCAR Nationwide Series
Gateway International Raceway
October 23, 2010
 
An ASA race scheduled for next weekend at Memphis Motorsports Park will still be held at the track.
 
Ticket refunds for 2010 events will be mailed out to fans in the next few weeks.

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