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July 23, 2019

Speedway Motorsports Responds to NASCAR Television Package

12/08/2005

CONCORD, N.C.--(BUSINESS WIRE)--Dec. 8, 2005--Speedway Motorsports, Inc. (NYSE: TRK) ("SMI") reacted positively to the details of NASCAR's new eight year, approximately $4.48 billion television package that was announced Wednesday. The agreements run from 2007 through 2014 and provide for the broadcast rights of 36 NEXTEL Cup races and the Busch and Craftsman Truck series events. We understand Fox, ABC/ESPN, TNT and SPEED Channel will carry the events for an average annual rights fee of approximately $560 million - a 40% increase over the current average. The remaining details about the transaction are still under negotiation.

"I am excited to see the 40% increase that comes with this new TV deal," said SMI Chairman and CEO Bruton Smith. "In an era where ratings are decreasing for most major league sports and competition is fierce for viewers, this shows the strong and growing value of NASCAR."

"This is a positive development for our company and our industry. The 40% increase is a signal that our sport continues to grow. Increased broadcast exposure will increase our marketing opportunities and help us win more fans," said SMI president and chief operating officer H.A. "Humpy" Wheeler. "I'm real happy with the increase of 40% over the current broadcast contracts. A large percentage of our revenues through 2014 will be already contracted. Racing fans will be able to see two thirds of NEXTEL Cup series events on network television with the remaining events on cable. The Busch and Truck series events gain additional exposure as well. Overall, this deal underscores the expanding popularity of the sport."

The NASCAR NEXTEL Cup Series events broadcast by FOX, ABC, ESPN, TNT and SPEED Channel will include: the Coca-Cola 600 at Lowe's Motor Speedway on May 28 and 12 additional points events (FOX); six consecutive races in June and July (TNT); and the final 17 events (ABC and ESPN), with all 10 races in the Chase for the NASCAR NEXTEL Cup to be aired on ABC.

ABC, ESPN and ESPN2 will broadcast the NASCAR Busch Series (no less than four events on ABC). SPEED Channel will continue to telecast NASCAR Craftsman Truck Series with the exception of two races, which will be shown by FOX.

Speedway Motorsports is a leading marketer and promoter of motorsports entertainment in the United States. The Company owns and operates the following premier facilities: Atlanta Motor Speedway, Bristol Motor Speedway, Infineon Raceway, Las Vegas Motor Speedway, Lowe's Motor Speedway and Texas Motor Speedway. The Company provides souvenir merchandising services through its SMI Properties subsidiaries and Motorsports Authentics joint venture, and manufactures and distributes smaller-scale, modified racing cars through its 600 Racing subsidiary. The Company also owns Performance Racing Network which broadcasts syndicated motorsports programming to over 710 radio stations nationwide. For more information, visit the Company's website at www.gospeedway.com.

    CONTACT: Speedway Motorsports, Inc.
             Lauri Wilks, 704-455-3239

    SOURCE: Speedway Motorsports, Inc.

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