Gulf Coast Entertainment To Buy Memphis Motorsports Park

Alabama-based Gulf Coast Entertainment LLC has "agreed to purchase" Memphis Motorsports Park (MMP) for $10M from Dover Motorsports Inc., according to Craig Wack of the Memphis COMMERCIAL APPEAL. Gulf Coast expects to "close the deal by April 30," and Dover "will receive a 2[%] interest in Gulf Coast" as part of the agreement. MMP VP & GM Jason Rittenberry Friday indicated that he "believes that Gulf Coast plans to petition for its own races and that only time will tell whether MMP keeps its biggest events." MMP is home to events in the NASCAR Nationwide Series, NASCAR Camping World Truck Series and NHRA Full Throttle Drag Racing Series. Gulf Coast, which counts NASCAR driver Dale Earnhardt Jr. among its investors, previously had "announced plans to build a $640[M] multiuse entertainment complex" in Mobile, Alabama (Memphis COMMERCIAL APPEAL, 1/31).