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CARROLL PROPERTIES PURCHASES LOUISVILLE MOTOR SPEEDWAY
Published January 12, 1998
Carroll Properties, Inc. has purchased Louisville Motor Speedway (LMS) from Kenny Stilger and Andy Vertrees. Carroll Properties Chair Jerry Carroll will retain Vertrees as LMS' promoter and GM, and will spend $400,000 for a new racing surface (Carroll Properties). In Cincinnati, Terry Flynn reported that Carroll and his four business partners expect to spend $100M on the 60,000-seat superspeedway. The partners "don't yet have a single commitment for a race date from any major sanctioning body," but Carroll said is confident the facility "will attract the big races." Carroll's plans "call for an expansion to 180,000 seats by 2002." Carroll's partners include Richard Duchossois, owner of Arlington Park race track; John Lindahl, a partner in Turfway Park; Bruce Lunsford and Chris Sullivan, founder of Outback Steakhouse and general partner of the MLB Devil Rays (Terry Flynn, CINCINNATI ENQUIRER, 1/9).