Speedway Motorsports, Inc. Purchases Kentucky Speedway - In a major press conference held this afternoon in the Time Warner Media Center of Charlotte Motor Speedway, O. Bruton Smith, founder, chairman and chief executive officer of Speedway Motorsports, Inc. announced he has agreed to purchase Kentucky Speedway from Kentucky Speedway, LLC.

The acquisition is expected to close in the third quarter of 2008.

"I think what we are doing here for Speedway Motorsports is the biggest announcement we have ever, ever made," said Smith, "mainly because of what we are doing and where we are doing it. I am delighted to tell you that, yes, we have purchased Kentucky Speedway. We have been working on this for a little while. This is a great speedway. I have been there. I like it a lot. And will we make changes? You got that right! It's beautiful, gorgeous, and it's our duty now to make it better."

Smith also noted he hopes to have a NASCAR Sprint Cup Series race there next year.

The entire audio transcript of the press conference can be found on the speedway's website, www.charlottemotorspeedway.com/audio.