Charlotte, N.C. – Parker Poe Adams & Bernstein LLP is pleased to announce that the firm represented Speedway Motorsports LLC in its acquisition of Dover Motorsports Inc., a publicly traded promoter of NASCAR and other motorsports events, which include events at the Dover International Speedway (nicknamed “The Monster Mile”) and the Nashville Superspeedway. Speedway Motorsports successfully completed its tender offer to acquire Dover Motorsports for $3.61 per share for an approximate total value of $131.5 million and, following the tender offer, a subsidiary of Speedway Motorsports was merged with and into Dover Motorsports Inc. The closing occurred on December 22, 2021.
Parker Poe is a long-standing adviser to Speedway Motorsports and related businesses owned by motorsports pioneer O. Bruton Smith and his family. The firm has represented Speedway Motorsports for approximately 40 years. Parker Poe helped take Speedway Motorsports public in 1995 and private in 2019.
Parker Poe partner Jimmy Greene led the deal team in the Dover Motorsports acquisition. The Parker Poe team also included partners Jordan Temple, Doug Harmon, Skip Smart, Chuck Lee, Debbie Kleman, Michel Vanesse, Will Cannon, and Jonathan Crotty, as well as associates Noah Ganz and Olivia Daly.
The firm advised on all aspects of the transaction, including negotiating its terms and documentation, preparing and filing Securities and Exchange Commission (SEC) disclosures, and assisting with its financing.
About Parker Poe
Parker Poe Adams & Bernstein LLP has more than 230 lawyers in eight offices in North Carolina, South Carolina, Georgia, and Washington, D.C. The firm provides legal counsel to many of the largest companies and local governments in the Southeast.
Parker Poe is a member of two leading international legal networks: TerraLex and the Employment Law Alliance. TerraLex and the ELA have chosen Parker Poe to help guide clients through the challenges of global business.