Ray Evernham Completes Acquisition of the East Lincoln Speedway

MOORESVILLE, NC (December 2, 2008) - Ray Evernham has announced that he has acquired the assets of the East Lincoln Speedway in Stanley, NC from founders Ralph and Joanne Nantz. Terms of the transaction were not disclosed.

The East Lincoln Speedway is a 3/8 mile dirt track located on Mariposa Road in Lincoln County, NC. The facility was built by the Nantzes and opened for racing in 1990. The 2009 season will mark its 19th consecutive year of racing. The Speedway runs various classes of cars ranging from Micro-sprints to Late Model Modified-Sportsman.

Evernham, whom motorsports media voted "The Greatest Crew Chief of All Time", won three NASCAR Sprint Cup championships as Jeff Gordon's crew chief and led Dodge in its re-entry into NASCAR. He remains a minority owner of Gillett Evernham Motorsports and is a motorsports analyst for ESPN.

"When I sold the majority interest in Evernham Motorsports to George Gilllett in 2007, one of my goals was to find ways to give back to the sport and help up-and-coming drivers find a safe, low-cost way to race," said Evernham. "Unfortunately, rising property values and land development have taken away many of the great dirt tracks around the country. With the acquisition of the East Lincoln Speedway, I can make sure that racers in the Charlotte area will have access to a safe, low-cost, family friendly racing facility for many years to come."

The transaction was negotiated by Bob Mack, who will also be a minority owner of the speedway.

About The East Lincoln Speedway: The East Lincoln Speedway is a 3/8 mile red clay track located off Mariposa Road in Lincoln County, NC. The track typically operates from April through September and racing is held on Saturday evenings. Admission is typically $10 for adults, children under 10 are free. Pit admission is $20. The track is available for rental during the week and has been used in the filming of several movies and commercials. For more information, see the track website at www.elspeedway.com

-credit: rePR