Pikes Peak Raceway sale complete
A private company consisting of motorsports enthusiasts and businessmen has announced its acquisition of Pikes Peak International Raceway from International Speedway Corp., according to a news release. The transaction was completed on June 27.
The new owner, Pikes Peak International Raceway LLC, maintains the name for the track facility. According to the release, the company plans to expand the facility’s offerings and says it will collaborate with motorsports organizations, corporate interests and the entertainment and hospitality industries in an effort to diversify the offerings at PPIR and "return to Colorado the vibrancy once associated with the raceway south of Colorado Springs."
Approximately 10,000 grandstand seats will remain to accommodate spectators. The entire facility sits on 1,200 acres.
“Our vision is to create a destination that fully encompasses all aspects that appeal to the motorsports industry, including participant-based events, driving experiences, corporate entertainment, testing and retail,” said John H. Molloy, chief executive officer of the company. “PPIR is a unique facility, and it provides an excellent platform for further expansion and development."
Specific plans for PPIR and a timeline for its formal re-opening are now in development.
The raceway opened in 1997, and hosted a regular schedule of racing events. It remains in excellent condition. International Speedway Corp. purchased the facility in September 2005 and shortly thereafter closed it, after moving its NASCAR races to other ISC facilities.
Financial terms of the transaction were not disclosed.
