DOVER MOTORSPORTS, INC. SUBSIDIARY CLOSES SALE
OF ASSETS OF GRAND PRIX OF LONG BEACH
Dover Motorsports, Inc. (NYSE Symbol: DVD) announced today that its wholly owned subsidiary, Grand Prix Association of Long Beach, Inc., closed on the sale of its Grand Prix of Long Beach event for $ 15 million in cash to Aquarium Asset Management, LLC, an affiliate of Champ Car World Series, LLC. The Company previously announced entering into the asset purchase agreement on May 24, 2005.
This release contains or may contain forward-looking statements based on management's beliefs and assumptions. Such statements are subject to various risks and uncertainties which could cause results to vary materially. Please refer to the Company's SEC filings for a discussion of such factors.
Dover Motorsports, Inc. (NYSE: DVD) is a leading promoter of NASCAR sanctioned motorsports events whose subsidiaries own and operate Dover International Speedway in Dover, Del., and Nashville Superspeedway near Nashville. The company also plays host to the Firefly Music Festival, produced by Red Frog Events and Goldenvoice. For more information, visit www.DoverMotorsports.com.