FANTASY NASCAR Racin

In November 2000, Kentucky Speedway developer Jerry Carroll proposed to the Jasper County board of supervisors plans to build a $76 million, 40,000-seat, 1 mile (1.6 km) track in Newton, Iowa. With the proposal, Carroll sought for the county to issue $30-40 million worth of bonds to fund the project along with seeking as much as an additional $35 million from the Vision Iowa program, a state economic growth program. However, by January 2001, Carroll abandoned the plan to focus on developing the Kentucky Speedway. As a result, California businessman Jerry Lowrie opted to replace Carroll in directing the project. Lowrie decided to decline asking the county for bonds. The project drew support from Newton mayor David Aldridge, but later saw opposition from residents near the proposed site. An approval from Vision

Iowa was considered critical for the project to survive, with developers hoping to secure $20 million. However, by August, the remaining available funding from Vision Iowa dropped lower than the amount needed. The next month, Lowrie abandoned the project to focus on building a speedway in California, leaving the project to be led by race team owner Larry Clement. Although Clement claimed that by October, he had commitment from private anonymous investors totaling $7-10 million, Vision Iowa leaders refused to still give the remaining money, claiming that they did not feel that sufficient proof of full commitment from investors had been provided, with Vision Iowa demanding that the identities of the investors be released. The funding was

rejected by the fall of 2002. On April 16, 2003, the Newton City Council unanimously approved a proposed project for a $30 million, 7⁄8 mile (1.4 km), 25,000-seat, multi-use racing facility headed by the U.S. MotorSport Entertainment Corporation and its CEO, Paul Schlaack. The project proposal planned to build it near Interstate 80, with Newton officials in charge of approving the project rather than those from Jasper County. However, although the city planned to invest $9 million into the facility, they opted to wait to build the track until Schlaack found enough investors for the project. In June, NASCAR driver Rusty Wallace was announced as the main designer of the project. Schlaack unveiled plans in October, with the city now investing a planned $17.3 million with

stated hopes of an opening date in 2005. Although plans were made to hold groundbreaking in spring of 2004, construction was delayed in June due to a lack of funds for the now-$50 million project. In February 2005, progress on the project resumed when developers announced that they had gathered enough funds; by this point, the budget increased to $70 million, and the opening year was delayed until 2006. The developers later sought to pass a ten year sales tax break bill; the proposed bill was the first of its

kind proposed in the state of Iowa. The bill drew bipartisan support from the Iowa General Assembly, and was passed from committee in late March. However, while the bill was supported by then-Governor of Iowa Tom Vilsack, the bill drew worries of draining the state's tax revenue based on future precedent, with Vilsack suggesting to retool the bill. It passed the Iowa House of Representatives on April 12, and was later approved by Vilsack on May 4. The project received further support with a promise from the Georgia-based UBG Financial Corporation to lend up to $57 million for the project; although, it was met with skepticism due to claims of finding "little physical evidence"

Groundbreaking was held on June 21, 2005. The project was met with optimism, as the economic impact of the facility for the city of Newton was seen as a satisfactory boost for a stagnating city; especially since the biggest employer of the city, Maytag, had begun major layoffs at its Newton factory. By August, Todd Melfi was appointed as the track's general manager. In mid-October, the track confirmed racing dates for the 2006 season with ARCA Re/Max Series and United States Auto Club (USAC)-sanctioned events, with a Hooters Pro Cup Series race being scheduled to christen the facility on September 15, 2006. Two months later, developers secured a $40 million loan from Wells Fargo in replacement of UBG Financial, who seemingly abandoned the project. By April 2006,

developers stated hopes of expanding the area to include a water park and a hotel nearby the facility. After the Maytag factory closed in May, the facility was depended on heavily by the Newton area to replace the economic bloodline of the city. In June, the facility was rumored to hold an Indy Racing League (IRL) race weekend for 2007; the report was confirmed in August. The facility opened as scheduled on September 15, 2006, with Woody Howard winning the first race at the track. The race and its preliminary sessions were marred with excessive tire wear, with mandatory competition cautions being implemented prior to the event. Three weeks later, the facility held its first music festival. The next year, the facility held its first IRL race, with Dario Franchitti winning the first major race at the facility. In 2008, the facility was awarded annual NASCAR races for 2009, with the second-tier NASCAR Xfinity Series) and the third-tier NASCAR Truck Series.

NASCAR made their first foray to the track in 2009 as both the Truck series and the Xfinity Series ran events. Brad Keselowski won the first Xfinity race beating Kyle Busch by 1/2 a second. The Xfinity Series raced at Iowa again in 2010; and then twice a year through 2019. The Series return to Iowa as a support race when the Cup Series ran their first race in 2024. Mike Skinner was the victor in the first Truck Series race over Aric Almirola. The trucks also raced yearly through 2019; with two events in 2012 and 2013. Three years later, in accordance with a plan to transfer ownership of the track within five years, U.S. MotorSport Entertainment sold controlling interest of the facility to the Clement family, a family from Newton. The Clement family were owners of Featherlite Incorporated. Many race teams use Featherlite Trailers and Featherlite Coaches for the transport of cars and staff. Rusty Wallace would remain a

minority owner in the track. Jauron left shortly thereafter in September, handing over the track's control to Doug Fritz, the senior director of marketing for NASCAR. In the same year, the track was found to be in financial trouble, with the facility being late on bill payments. As a result, Fritz resigned, with track management claiming that the track was seeking a refinancing deal in early September. Two months later, The Des Moines Register reported that the facility had been sold to the sanctioning body of NASCAR for $10 million, with Jimmy Small taking over Fritz's position of leadership In February 2018, David Hyatt, the former president of the Motor Racing Network (MRN),

replaced Small as the president of the track. Hyatt stated hopes of expanding the facility, along with obtaining a NASCAR Cup Series weekend; particularly, the NASCAR All-Star Race. By the next year, Hyatt claimed that Iowa Speedway had high chances of being awarded a Cup Series date in 2021. Due to the COVID-19 pandemic, the track's races for 2020 were either cancelled or ran with a reduced number of spectators. By mid-2020, journalist Robin Miller reported rumors that racing mogul Roger Penske was hoping to buy the facility to keep it on the IndyCar schedule; the facility was also rumored to be in financial trouble. Other

rumors were also made at the same time that the track was going to be closed down. When the track reopened to full capacity in July 2021 for the NASCAR fourth-tier ARCA Menards Series, attendance was reported at 5,000, putting future events in jeopardy. However, a month later, IndyCar announced its return to the facility in 2022, this time with a doubleheader event. On October 2, 2023, reports by The Athletic claimed that NASCAR, in seeking for a replacement of a failed attempt of trying to lure a Cup Series weekend

at the Circuit Gilles Villeneuve for the 2024 season, opted to choose Iowa Speedway as a backup option. The decision was confirmed a day later, with the facility slated to hold its first Cup Series races since its opening. As of 2023, the track holds 30,000 seats. Along with the main track, the track complex also features seven road course layouts, including a 1.3-mile (2.1 km) road course layout that combines parts of the main track along with the infield road course to make a "roval". The facility is served by Interstate 80, and is approximately 35 miles (56 km) east from the Iowan capital of Des Moines. Finally the Cup series made their debut on June 16, 2024. Ryan Blaney was dominant leading 201 of 350 laps, beating Willian Byron by 7/10 of a second. The facility has played host to a variety races hosted by varying sanctioning bodies, including the ARCA Menards Series, the Rolex Sports Car Series, the Pro Mazda Championship, and the USF2000 Championship.

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IOWA SPEEDWAY - NEWTON IA