Dover ceases operations at Memphis Motorpsorts Park

DOVER, Del. -- Dover Motorsports Inc. is ceasing all operations at Memphis Motorsports Park and will not promote any events at Memphis in 2010.

The NASCAR races previously scheduled for Memphis have been moved to other DMI tracks. The Truck Series race will be held April 2 at Nashville and the Nationwide Series race will be held Oct. 23 at Gateway.

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, CEO and president 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."

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.

The Company is expected to release its earnings for the third quarter on Monday, and will disclose additional financial details relative to the closure of its Memphis facility shortly.